Jersey-based Radix Tokens has raised $10m in a funding round led by DWF Labs and giving the asset-oriented smart contract platform a $400m valuation.
More than 50 projects are currently being built on Radix, including dApps for trading, saving, lending, borrowing, gaming, NFTs and wallets. Radix offers a full-stack for web3, without breaking atomic composability.
The company is backed by 10 years of research, testing and development, and has a global community of thousands.
The investment arrives as Radix prepares to launch its Babylon mainnet, which will introduce smart contract capability for the first time.
The private round was completed by undisclosed blockchain VCs and angel investors.
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. It has offices in Singapore, Switzerland, South Korea, the BVI, and the UAE, and trades almost 2,000 pairs with a daily volume that places it among the top five ranking entities trading on the world’s top 40 exchanges.
Andy Jarrett, director at Radix Tokens (Jersey) 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.”
DWF Labs’ Managing Partner, Andrei Grachev, expressed excitement in leading the $10 million funding round for Radix Tokens (Jersey) and supporting their vision of building a high throughput DeFi ecosystem.
Grachev also highlighted the potential he sees in the more than 50 projects currently building on Radix and emphasized his eagerness to bring his firm’s expertise and capital to the launch of the coming Radix mainnet.
He concluded by expressing his anticipation for Radix’s continued success in the asset-oriented smart contract space.