Radix Tokens (Jersey), the issuing company behind the asset-oriented smart contract platform Radix, has raised $10 million in fresh funding. The investment was delivered in a private funding round led by DWF Labs and gives the Radix platform a $400 million valuation.
Radix’s efforts to build out its high throughput DeFi ecosystem have been given a boost after securing the additional funding. The investment arrives at a critical time for Radix, which is preparing to launch its Babylon mainnet, which will introduce smart contract capability for the first time.
DWF Labs, which led the $10M round, is a global leader in market making and multi-stage web3 investment. It has offices in Singapore, Switzerland, the British Virgin Islands, the United Arab Emirates, South Korea, and Hong Kong. The private round was completed by undisclosed blockchain VCs and angel investors.
“It is fantastic to have the DWF Labs team focused on the coming Radix ecosystem and lending their expertise and capital to the launch of the coming Radix mainnet, Babylon” - Andy Jarrett, Director, Radix Tokens (Jersey) Ltd.
"We are thrilled to lead the $10 million funding round for Radix Tokens (Jersey) and support their vision of building out a high throughput DeFi ecosystem. We are excited to bring our expertise and capital to the launch of the coming Radix mainnet and see great potential in the more than 50 projects currently building on Radix. We look forward to seeing Radix's continued success in the asset-oriented smart contract space." - Andrei Grachev, Managing Partner of DWF Labs.
More than 50 projects are currently building on Radix including dApps for trading, saving, lending, borrowing, gaming, NFTs, and wallets. In addition, Radix is currently running a grants program. As well as receiving funding, the six teams selected for the program benefit from mentoring and guidance from the team.
Radix is an asset-oriented smart contract platform, purpose-built to support the $400 trillion global financial economy. Radix offers a full-stack for web3, without breaking atomic composability. Backed by 10 years of research, testing, and focused development, Radix has a global community of thousands and a network value of over $400 million.
Learn more: www.radixdlt.com
About DWF Labs
DWF Labs is a global leading digital asset market maker and multi-stage web3 investment firm, providing support from token listing to market making to OTC trading solutions. DWF Labs seeks to invest and support bold founders who want to build the future of Web3.
DWF Labs is present in Singapore, Switzerland, South Korea, the BVI, and the UAE and trades almost 2,000 pairs with a daily volume that places DWF Labs among the top 5 ranking entities trading on the world’s top 40 exchanges.
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