X10, a hybrid crypto exchange utilizing the StarkEx Layer 2 engine, launched out of stealth today on testnet with $6.5 million in funding.

Investors in the platform include Tioga Capital, Semantic Ventures, Cherry Ventures, StarkWare and Cyber Fund, as well as angel investors such as Revolut executives and Lido co-founder Konstantin Lomashuk, according to a statement.

The platform is designed to combine the speed, execution and portfolio features of a centralized exchange with self-custody and on-chain settlement associated with decentralized exchanges to improve latency, throughput and liquidity, the team said. X10 avoids the transparency and security flaws of centralized exchanges and the risk of lost funds in cases like the collapse of FTX, the team claimed.

X10 was founded by …