The “first and leading DEX on the [Bitcoin] network”, Saturn, has today announced the official close of its first institutional funding round.

In layman’s terms, Saturn is a peer-to-peer orderbook built on the Bitcoin network itself. By opening up a market for so-called ‘Satoshis’, the project hopes to inject the burgeoning DeFi ecosystem on Bitcoin with new life. 

The project’s core mission is to provide the still-young Bitcoin-native ecosystem with a trusted hub, offering a smooth trading experience to both new and seasoned traders.

“As the first and leading DEX on the network, we will continue to raise the bar for what is possible on the Bitcoin blockchain”, reads the project’s official public announcement.

Saturn’s $800,000 Boost

This newly-disclosed round saw the project raise some $800,000 in institutional funding and the round was led by Sora Ventures.

According to Sora Ventures founder, Jason Fang…

“Saturn is unlocking the full utility of Bitcoin by opening up a market for Satoshis, enabling people to speculate, trade, and discover one of the most underrated assets within Bitcoin… We are extremely excited to be leading the round for Saturn, and helping them expand their product into the global market.” 

Sora was not alone, however, with a plethora of well-respected VCs and angel investors participating in the funding round. These investors include, but are not limited to…

• Kamran Iqbal, founder of MH Ventures
• Dillon Healy of Bitcoin Magazine
• Joe McCann of Asymmetric
• CMS Holdings
• Silvermine Capital

“CMS sees Saturn as a pivotal player in the newly emerging BTC DEX space and is excited to support Saturn on their upcoming launch”, said CMS Holdings

To learn more about Saturn and its vision, make sure to visit the project’s official website, and follow @Saturn_btc on X/Twitter.