Coinbase veterans secure $11m to launch stablecoin-native DeFi app on Solana

A team of Coinbase alumni has raised $11 million to debut True Markets, a stablecoin-native DeFi app offering real-time execution and self-custody on Solana.

True Markets, a new mobile-focused non-custodial startup founded by former Coinbase executives Vishal Gupta and Patrick McCreary, has raised $11 million to bring its stablecoin-native, mobile-first DeFi app to iPhones, pushing total funding to $20 million as it bets on Solana for faster, safer crypto trading.

The round was co-led by Accomplice and RRE Ventures, with additional backing from Reciprocal Ventures, Variant Fund, and PayPal Ventures, according to a press release shared with crypto.news.

Founded by former Coinbase executives Vishal Gupta, who served as head of exchange, and Patrick McCreary, a senior engineering leader, True Markets enables on-chain token trading with stablecoin settlement and a non-custodial setup. The app supports top Solana-native assets at launch, with plans to expand into centralized finance markets over time.

“Retail traders have been stuck with clunky workflows, unclear pricing, and fragmented liquidity. Our goal is to deliver a fairer and more transparent experience that makes asset discovery simple, shows real-time market momentum, and feels as intuitive as the best apps on your phone.”

Vishal Gupta

The platform includes real-time market sparklines, hosted wallets supported by Turnkey, and smart order routing powered by Definitive, per the press release. With the funding, True Markets plans to integrate TrueX, its own institutional-grade centralized exchange, offering deeper liquidity in mobile experience.