RWA network Pharos lands a $1 billion valuation in $44M funding round ahead of mainnet debut
CoinDesk·2h ago·Positivity
What Happened
Pharos Network, a layer 1 blockchain for tokenized real-world assets, raised $44 million in Series A funding led by traditional finance and crypto investors including Sumitomo Corporation, SNZ Holding, and Chainlink. The company targets a $50 trillion market and plans mainnet launch soon. Real-world assets on blockchain reached $24.3 billion, up from $14 billion at year start.
Key Entities
Pharos NetworkSumitomo CorporationSNZ HoldingChainlinkFlow TradersGCL New EnergyReal-world assets blockchain