OrangeX Secures $20 Million in Series B Funding Round for Compliance Focus

Global cryptocurrency exchange OrangeX has successfully raised $20 million in a Series B financing round, led by Kryptos with SCI Ventures participating. This investment will support OrangeX’s efforts to enhance user safety and compliance with increasing regulatory demands. The funding follows the company’s previous Series A round of $10 million secured in September 2023. OrangeX plans to implement a publicly verifiable proof-of-reserves system, bolstering its appeal to institutional investors. This move aligns with industry trends toward increased transparency and compliance regulations.