N1 Acquires Decentralized Derivatives Platform 01 Exchange

N1, a Layer 1 blockchain backed by Peter Thiel's Founders Fund, has acquired decentralized derivatives platform 01 Exchange in a move to bring its flagship trading product directly into the network. This integration aims to compete with larger crypto exchanges and provide high-speed, trustless trading and settlement.

The acquisition includes the 01 Exchange technology, liquidity, and community, which will allow N1 to streamline product development and strengthen network economics instead of relying on third-party applications for growth. Dima Romanov, CEO and co-founder of N1, commented that bringing 01 Exchange into the network lets them 'move faster, deepen liquidity, and deliver a more integrated trading experience.'

N1 has already shown significant traction with its blockchain, having handled over $3 billion in trading volume and serving over 25,000 users. The acquisition will support the upcoming rollout of N1 2.0, which is set to expand the network with request-for-quote markets, vaults, equities, additional on-chain financial products, and native mobile applications.