News Summary

Toronto and Miami-based startup Rails has launched a new hybrid cryptocurrency trading platform in the United States after raising $14 million USD in a token warrant sale. The exchange aims to bridge the gap between centralized and decentralized crypto platforms, offering users both self-custody and high-speed trading capabilities. The fundraising was led by Slow Ventures and included participation from major investors such as Kraken, CMCC Global, Quantstamp, and Toronto’s Round13 Capital. Rails was founded by Canadian duo Satraj Bambra and Megha Bambra, who previously built and sold multiple Toronto tech companies. Despite its strong presence in Toronto, where a significant portion of its team works, Rails decided to locate its headquarters in Miami due to the more favorable regulatory environment for crypto. The startup plans to use the capital to enhance platform liquidity, expand its team, and introduce new products. Rails continues to leverage Toronto’s tech talent while seeking to capitalize on evolving crypto regulations in the US.