Rails, a crypto exchange startup, has launched its platform after raising $14 million from investors, including Kraken and others, bringing total funding to $20 million. The startup aims to combine the execution speed of centralized exchanges with the asset control and transparency of on-chain custody. Using a centralized matching engine, Rails settles trades on-chain employing cryptographic techniques like zero-knowledge proofs and Merkle trees to ensure transaction transparency and user privacy. CEO Satraj Bambra emphasized user control over assets without sacrificing execution speed. The platform will initially focus on perpetual futures contracts collateralized with stablecoins, utilizing Kraken's Ink layer-2 blockchain for its operations. Rails was founded in 2023 by the team behind BlockEQ.

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