According to CoinDesk, tokenization startup Tenbin Labs has completed a $7 million seed funding round led by Galaxy Ventures, with participation from Wintermute Ventures, GSR, FalconX, and others. Tenbin plans to launch its first tokenized gold product in the early part of this year, followed by high-yield forex tokens pegged to emerging market currencies such as the Brazilian real and the Mexican peso, targeting DeFi users seeking alternatives to US dollar stablecoins.
Tenbin Labs Completes $7M Seed Round for Asset Tokenization
TechFlowShare
Summary
Tenbin Labs, a digital asset news hub, has closed a $7 million seed round led by Galaxy Ventures, with participation from Wintermute Ventures, GSR, and FalconX. The company plans to launch a tokenized gold product this year, followed by forex tokens tied to emerging market currencies. While risks from DeFi exploits remain a concern, Tenbin's products are designed to target DeFi users seeking alternatives to USD stablecoins.
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