About True Markets
True Markets builds stablecoin-denominated trading infrastructure, anchored by the TrueX exchange and the Gateway interface for developers and agents. Orders route as a single RFQ across centralized and decentralized venues, fill in USDC, PYUSD and other stablecoins, and quote and profit are denominated in dollars; assets never enter a platform account, keys are generated and held inside Turnkey's trusted execution environment, and qualified custody comes from Paxos, keeping matching separate from custody.
Its clients are fintechs, brokerages and banks that want trading inside their own products: one integration covers Bitcoin, Solana, Base, Arbitrum and Hyperliquid, gas is abstracted, and KYC, AML and sanctions screening are on by default. Against building an exchange it sells compliance and settlement plumbing; against a pure DEX aggregator it adds accounts and layered custody. Listings and liquidity still center on Solana assets, and the service perimeter follows U.S. regulatory scope.
True Markets, founded in 2024 by Vishal Gupta and Patrick McCreary (ex-Coinbase, Circle, Goldman Sachs), launched its non-custodial, stablecoin-native trading platform TrueX. In fall 2024, it secured $9 million in seed funding. In May 2025, the company raised $11 million in Series A, co-led by PayPal Ventures and Variant, bringing total funding to $20 million, and released its retail mobile app on Apple's App Store, initially supporting Solana ecosystem tokens with weekly token reviews and risk warnings. In August 2025, True Markets launched the DeFi Gateway, a white-label solution enabling brokerages and fintech platforms to offer gasless, multichain access to onchain assets via its DeFi Execution Engine, powered by Turnkey for custody. These milestones highlight its evolution from a direct retail trading app to an infrastructure provider, expanding DeFi access for mainstream platforms.
For True Markets the decisive external variable in 2026 was the settlement asset itself. On 17 March PayPal extended PYUSD to 70 markets, letting users buy, hold and send it inside a PayPal account, and PYUSD's market value rose from about $800 million to $4.1 billion. TrueX settles in PYUSD by default, so the depth and availability of that clearing rail improved materially.
On product, True Markets held to a non-custodial, stablecoin-native model: TrueX runs a proprietary matching engine with segregated execution and custody, assets sit with Paxos and the venue never touches user funds, while the retail mobile app on Solana offers gasless execution, smart order routing and Turnkey embedded key management so users keep control of their keys. The team stays small, competing on weekly listings plus price, speed and interface quality.
True Markets' Future strategy and roadmap: it plans to widen the mobile app from Solana tokens to more major assets and merge the CeFi venue and the DeFi app into a single account system, while keeping licensed custody and stablecoin settlement at the centre of compliance instead of running its own balance sheet.
Vishal K.
Gupta — Co-founder & CEO; ex-Head of USDC at Circle, ran Coinbase Exchange, earlier Goldman Sachs listed-options trading; B.S. Computer & Systems Engineering, RPI.
Patrick McCreary — Co-founder & CTO; both former senior leaders at Coinbase.
True Markets, a non-custodial, stablecoin-native exchange, recently welcomed Marisa McKnight as its Business Development (BD) lead in May 2026. With over 11 years of experience in crypto and finance, she previously served as Head of Product and Marketing, Japan at Liquid and founded Joba Network. Since joining, she has represented the company at industry events such as KBW and Token2049, driving partnership efforts. The team currently consists of about 15 employees, headquartered in New York.
True Markets charges a 1.00% (100 bps) retail fee per trade on its web and mobile app, covering execution, routing, and gasless settlement.
True Markets charges 0.20% (20 bps) for trades placed via its command-line interface or MCP server, and the Gateway API applies the same 0.20% (20 bps) rate to institutional programmatic flow.
True Markets order-book exchange charges makers 0.00% and takers 0.04% (4 bps), with network gas on supported chains covered by the platform.