Coinbase Ventures, Brevan Howard among early backers of compliant DEX Mauve

Quick Take

  • Violet launched Mauve to be a compliance-focused DEX. 
  • Coinbase Ventures and Brevan Howard were among the backers of its $15 million round. 

Violet, which offers compliance and identity infrastructure for decentralized finance, launched its compliance-focused decentralized exchange, Mauve.

Coinbase Ventures and Brevan Howard joined the DEX's $15 million funding round, according to the firm's announcement. Ethereal Ventures, BlueYard Capital and Balderton were among the other backers. 

"Mauve is a direct response to the FTX fallout," Co-Founder Markus Maier said, adding the collapse "significantly eroded trust in crypto globally" through the exchange's misappropriation of funds.

Maier said the future of the space is dependent on the continued adoption of non-custodial crypto exchanges, something he says Mauve offers. 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Mauve users can trade without having to surrender custody of their assets. "This means no one can access, much less steal, any retail or institutional investor's funds, helping to restore confidence among market participants," Maier said. 

The DEX requires all users to pass "rigorous compliance checks" to give compliance-conscious users confidence when migrating to DeFi. The platform claims to be fully transparent and audited by smart contracts; it also offers users instant settlement without intermediaries. 

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Adam Morgan is a reporter covering cryptocurrency, financial markets, and economics – anything from price movements, earnings reports, and inflation to the U.S. Federal Reserve interest rate decisions and everything in between. Adam is based in London.


To contact the editor of this story:
Larry DiTore at
[email protected]