PANews, May 20: According to Fortune, the decentralized derivatives trading protocol Variational has announced the completion of a $50 million Series A round led by Dragonfly Capital, with participation from Bain Capital Crypto, Coinbase Ventures, and others. Its seed round previously raised $10.3 million, led by Bain Capital Crypto. Headquartered in the Cayman Islands, Variational aggregates liquidity from major crypto exchanges and traditional financial market makers to offer on-chain derivatives trading for "real-world assets" (RWA), such as oil and commodities, targeting traditional markets like CME.
Decentralized Derivatives Protocol Variational Closes $50M Series A Round Led by Dragonfly Capital
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Summary
The decentralized derivatives market protocol Variational has closed a $50 million Series A round led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures. The company previously raised $10.3 million in a seed round led by Bain. Headquartered in the Cayman Islands, Variational aggregates liquidity from major crypto and traditional exchanges to offer on-chain, data-backed derivatives for real-world assets such as oil and commodities, targeting traditional markets like the CME.
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