Radix Tokens (Jersey), the issuing firm behind the asset-oriented smart contract platform Radix, has successfully raised a new round of funding in the amount of $10 million. The investment was made during a private funding round that was headed by DWF Labs. As a result of the investment, the Radix platform now has a valuation of $400 million.
The company Radix has been provided with momentum in its attempts at laying out its high throughput DeFi ecosystem as a result of the additional funding that it has secured. The investment comes at a crucial time for Radix, as the company is getting ready to launch its Babylon mainnet. This will be the first time that smart contract functionality will be available on the Babylon mainnet.
Talking about the major success of the private funding round and DWF Labs support, Andy Jarrett, Director, Radix Tokens (Jersey) Ltd, said: “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.”
Building Out a High Throughput DeFi Ecosystem
DWF Labs is a global pioneer in market making and multi-stage Web3 investment. It led the $10 million round of funding that was recently completed for Radix. It has offices in Hong Kong, Singapore, Switzerland, the British Virgin Islands, the United Arab Emirates, and South Korea. Other locations include the United Arab Emirates and South Korea. Unnamed blockchain venture capitalists and angel investors contributed to the completion of the private round of funding.
Andrei Grachev, Managing Partner of DWF Labs, said: “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.”
More than 50 different projects are now being developed on Radix. These projects include dApps for gaming, lending, borrowing, trading, and saving, as well as NFTs and wallets. In addition, Radix is in the process of administering a grants program right now. The six teams that were chosen for the program will not only receive financial support, but they will also receive mentoring and advice from the team.
A Major Boost for the Web3 Space
Radix is a platform for asset-oriented smart contracts that have been purpose-built to accommodate the $400 trillion global financial sector. Radix provides a comprehensive stack for Web3, without compromising the atomic composability of the platform. Radix has a global community that numbers in the thousands and a network value that exceeds $400 million. This community is supported by 10 years of research, testing, and concentrated development.
DWF Labs is a global leader in the digital asset market making industry and a multi-stage Web3 investment organization. The company offers a variety of services, including token listing, market making, and OTC trading solutions. DWF Labs is looking to make investments and provide support to founders that are willing to take risks in order to develop the Web3 of the future.
DWF Labs is one of the top five ranking businesses trading on the world’s top 40 exchanges. The company has a physical presence in Singapore, Switzerland, South Korea, the British Virgin Islands, and the United Arab Emirates, and it trades approximately 2,000 different currency pairings on a daily basis.