Yellow Network Secures $10M Seed Funding from Ripple Co-Founder Chris Larsen
CryptoNewsTerminal Staff17 Sep, 2024
Yellow Network Secures $10M Seed Funding from Ripple Co-Founder Chris Larsen
Yellow Network, a decentralized clearing network, has secured $10 million in seed funding led by Ripple co-founder Chris Larsen. The funding round also saw participation from ConsenSys, GSR, NxGen, MV Global, Gate Labs, ZBS Capital, Moonrock Capital, and Math. The funds will be used to accelerate the development of Yellow Network's products and expand its team. Yellow Network's mission is to create a more efficient and transparent financial system. The company's flagship product, the Yellow Protocol, is a blockchain-based settlement network that allows institutions to clear and settle transactions in real-time. By eliminating the need for intermediaries, the Yellow Protocol can significantly reduce costs and settlement times. The funding round is a major milestone for Yellow Network and a testament to the growing interest in decentralized finance. The company is well-positioned to capitalize on the growing demand for faster, more efficient, and more transparent financial services.
