Axelar Raises $30 Million Investment... "Contributing to Ecosystem Expansion"

Interchain solution Axelar announced on the 13th that it has secured a strategic investment of $30 million (approximately 43.6 billion KRW).

The investment reportedly included participation from Arrington Capital, Electric Capital, Distributed Global, Laser Digital, and others.

The funds will be used to expand the ecosystem and strengthen connectivity with various blockchain networks, particularly focusing on expanding into areas that tokenize real-world assets (RWA) to facilitate institutional blockchain connections. Some of the investment will be used to purchase Axelar's native token AXL, which will be unlocked from the ecosystem allocation held by the Axelar Foundation, with these tokens subject to a lock-up period of 6 to 12 months.

Sergey Gorbunov, co-founder of Axelar, said, "Axelar is the only fully decentralized, non-custodial, open-source blockchain interoperability protocol, making it essential for financial institutions looking to enter the blockchain space," adding, "The Axelar network will provide the most innovative solution for connecting institutional private blockchains built for stablecoins and other asset tokenization."