tanX

Based in the British Virgin Islands and founded in 2021 by co-founders Shaaran Lakshminarayanan, Ritumbhara Bhatnagar, and Bhavesh Praveen, BRS Tech Services Ltd, doing business as tanX, operates as an institutional DEX, offering self-custodial, high-performance liquidity solutions for traders and institutions. In March 2024, tanX raised USD 16. 5 Million in venture debt funding from Pantera Capital, Elevation Capital, StarkWare Industries Ltd. , Spartan Group, Goodwater Capital, Upsparks, and Protofund.

tanX supports trading across multiple blockchain networks, offering advanced features such as low latency APIs, zero-knowledge data privacy, and integration with institutional infrastructure. The company offers institutional DEX, a decentralized order book with low spreads, instant execution, and no gas fees. The company offers a variety of products such as multi-chain support, self-custodial infrastructure, and application platform integration. As of 2024, the firm offers a tool known as Salt, a point-based rewards system, and the development of multi-chain support for assets across Ethereum, Polygon, StarkNet, and Arbitrum.

The company generates revenue based on a subscription and charges a 6 bps trading fee for pioneer traders. The firm charges a 5 bps trading fee for the prodigy trader and a 4 bps trading fee for the sage trader.