For years, crypto exchanges have struggled to balance user control with the speed and liquidity of centralized trading. Bartosz Lipinski, co-founder and CEO of Cube Group, believes the solution lies in removing complexity altogether.
Cube was founded by Lipinski, a Solana core developer and former Citadel executive, along with CTO Larry Wu. It is a crypto exchange that combines centralized trade execution with decentralized custody, built on Solana infrastructure using multi-party computation (MPC).
Cube Group was acquired by Mercer Park Opportunities Corp. (TSX: SPAC.U), a Cayman Islands-based special purpose acquisition company (SPAC), in a deal valued at $300 million.
Decentralized Custody Meets Centralized Execution
Cube Group’s model blends decentralized security with centralized performance. “We are mostly centralized, but with decentralized custody,” Lipinski said, explaining that the company uses Solana-based infrastructure to distribute control of users’ private keys through multi-party computation (MPC).
“We took Solana Validator Client and created a network that holds the shares of your key when you sign up to the exchange, using multi-party computation infrastructure that we built.”
This setup allows users to maintain control of their assets directly from their wallets, even while executing trades through Cube’s centralized interface. Lipinski added that peer-to-peer (P2P) transactions are signed by traders themselves, ensuring ownership remains transparent on-chain.
Building Interoperability Across Chains
Although built on Solana, Cube’s decentralized custody network is designed to work across multiple blockchains. The system connects directly to networks like Bitcoin, enabling cross-chain swaps between native assets.
“When you trade a Solana token for Bitcoin, you actually execute on two different networks.”
Interoperability has been one of decentralized finance’s (DeFi) biggest pain points, often requiring complex and risky bridges. Cube’s approach aims to unify the trading experience without forcing users to surrender asset sovereignty.
“We never try to educate our users. You should just be able to open the app just like Robinhood and just start trading.”
Lipinski said Cube’s philosophy is to make blockchain technology invisible to the average trader. Instead of forcing users to navigate technical jargon or private key management, Cube allows them to interact with crypto markets through a familiar, app-based interface — without sacrificing control of their assets.