According to Foresight News, Vega Protocol, a Layer 1 blockchain focusing on derivatives trading, has announced its strategic expansion into the Asia-Pacific market, particularly in South Korea and Singapore. Since its launch, Vega DEX has achieved a total trading volume of over $300 million.
Vega DEX officially went live on the Vega derivatives trading application chain on May 23, 2023. Currently, Vega only offers cash-settled futures markets, but perpetual futures markets will also be enabled on the Vega network, providing traders with a decentralized and self-custodial solution.
In October 2019, Vega completed a $5 million seed funding round led by Pantera Capital, with Gumi Cryptos Capital, NGC, Hashed, and SevenX Ventures as the main investors in the Asia-Pacific region.