Hong Kong, April 8, 2026 — Pharos Network, a Layer 1 blockchain network designed for institutional financial use cases, today announced the completion of a $44 million Series A funding round, with proceeds aimed at accelerating the development of on-chain real-world asset (RWA) infrastructure across Asia and globally.
This round of financing is co-led by multiple undisclosed leading institutions, including Asia’s top private equity funds, new energy publicly traded companies, and Hong Kong-compliant financial institutions. Other strategic investors include traditional industry leaders such as Sumitomo Corporation, a Fortune 500 conglomerate, investing through its subsidiaries, as well as crypto-native institutions SNZ, Chainlink, and Flow Traders, further bridging the connection between real-world assets and on-chain liquidity.
Pharos is a financial-grade, asset-native Layer 1 network designed to integrate $50 trillion in real-world assets (RWA), traditional finance (TradFi), and cross-chain capital into a modular on-chain economy at internet scale. The network features a deeply parallel execution architecture with built-in compliance modules, specifically engineered for real-time, asset-backed financial applications.
“This round of funding will drive RealFi from concept to reality,” said Wish Wu, Co-founder and CEO of Pharos Network. “We are defining how institutional capital, risk governance, and on-chain infrastructure can work in synergy on a financial-grade Layer 1. With our strategic partners, we are committed to building an environment where real-world assets can operate at scale with institutional-grade reliability.”
Prior to this, Pharos has rapidly expanded its ecosystem. Recently, it reached a strategic capital partnership with GCL, a global leader in solar energy and energy storage, to jointly launch an RWA pilot project backed by energy assets.
The Pharos Network has now launched the Atlantic Ocean testnet, fully demonstrating mainnet-level performance and ecosystem readiness. The testnet has connected millions of users and hundreds of millions of unique addresses, validating its ability to handle high-frequency, high-value asset transfers, and is now prepared for mainnet launch.
About Pharos Network
Pharos Network is an inclusive Layer 1 blockchain built for RealFi, dedicated to enabling the free flow of real-world value and institutional-grade assets on-chain, while achieving composability with decentralized assets globally. Pharos drives native asset ecosystems through a modular architecture, a high-performance parallel execution engine, and built-in compliance modules.
The team was founded by former core management of Ant Group, led by CEO Wish Wu, with key members coming from Ant Group, Microsoft Research, and Stanford University, possessing deep expertise in blockchain infrastructure, formal verification, and zero-knowledge proof systems. The team previously led the infrastructure development for Alipay and Asia’s largest blockchain platform.
Prior to this Series A round, Pharos completed an $8 million seed round in November 2024, led by Lightspeed Faction and Hack VC, with additional investors participating, bringing the total raised to $52 million. Pharos’s testnet launched in May 2025, enabling developers to build and test applications on the platform.