Momentum DEX Secures $100M Funding on Sui Blockchain

Estimated reading time: 4 minutes

• Momentum DEX, a decentralized exchange on the Sui blockchain, raised $100 million in a funding round
• Investment led by OKX Ventures with participation from notable firms including Coinbase Ventures and KuCoin Ventures
• Momentum DEX’s valuation has increased significantly from a previous $10 million raise earlier in 2025
• The Sui blockchain is also attracting attention with an ETF application and international partnerships
• The project aims to enhance the decentralized finance ecosystem on Sui

Momentum DEX, a decentralized exchange built on the Sui blockchain, has closed a strategic funding round at a $100 million valuation. The investment, finalized in June 2025, was led by OKX Ventures and included several notable firms from the cryptocurrency sector[1].

Participants in the round comprised Coinbase Ventures, Protagonist, Gate Ventures, MEXC Ventures, KuCoin Ventures, DNA Fund, MonkeVentures, and MultiChain Advisors Inc.[2]. This funding follows a previous $10 million raise in March 2025, marking a significant increase in Momentum DEX’s valuation and increased investor interest in the platform and the Sui blockchain[3].

Momentum DEX, also known as MSafe, functions as a decentralized exchange and decentralized application on the Sui network[4]. The project was introduced in February 2025 by Sylvanus Technologies, gaining attention from both investors and the wider blockchain community within a short period[5].

The Sui blockchain has also drawn attention for regulatory and international developments. In April 2025, Canary Capital submitted an S-1 registration to the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) for the SUI token. The ETF would hold physical SUI tokens and refer to CoinDesk Indices, Inc. to determine its net asset value[6]. As of June 5, 2025, the SEC deferred its decision on the SUI ETF application, moving the deadline to January 18, 2026. This extension continues the regulatory body’s cautious approach toward altcoin-backed ETFs, which has also affected similar proposals for Litecoin and Ethereum[7].

Internationally, Sui has formed new partnerships. On June 5, 2025, SUI announced a collaboration with Dubai’s Virtual Asset Regulatory Authority (VARA) aimed at supporting cryptocurrency startups[8].

In summary, the recent investment in Momentum DEX and the broader activity surrounding the Sui blockchain indicate ongoing growth within the decentralized finance sector. Backed by new capital, a diverse investor group, and expanding partnerships, Momentum DEX is positioned to participate in the development of Sui’s DeFi ecosystem.

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1. Strategic investment round led by OKX Ventures at $100 million valuation. Source: https://skynet.certik.com/pulse
2. List of strategic round investors. Source: https://crypto-fundraising.info
3. Previous $10 million funding round. Source: https://skynet.certik.com/pulse
4. Momentum DEX as a Sui-based DApp and DEX. Source: https://crypto-fundraising.info; https://www.varys.capital/press
5. Momentum launched by Sylvanus Technologies. Source: https://www.varys.capital/press
6. S-1 registration for SUI spot ETF and NAV details. Source: https://www.gate.com/learn/articles/gate-research-us-sec-delays-sui-etf-application-decision-falcon-stablecoin-supply-surpasses-500-million/9368
7. SEC deadline extension for SUI ETF application and context on Litecoin/Ethereum ETF approvals. Source: https://www.gate.com/learn/articles/gate-research-us-sec-delays-sui-etf-application-decision-falcon-stablecoin-supply-surpasses-500-million/9368
8. SUI partnership with Dubai’s VARA. Source: https://coingape.com/brandtalk/pulse/crypto-staking-giant-figment-eyes-100m-200m-in-strategic-acquisitions-of-crypto-firms/