Pharos Network has secured a $44 million Series A funding round, achieving a valuation of nearly $1 billion as it prepares to launch its mainnet. The round was led by a mix of traditional finance and crypto investors, including Sumitomo Corporation and Chainlink. Pharos aims to create an “asset-native” blockchain network that facilitates regulated financial activities, targeting a massive $50 trillion market for tokenized real-world assets.
This funding comes amid a growing interest in blockchain technology for asset tokenization, which has seen the total value of real-world assets on-chain rise to $24.3 billion, up from $14 billion at the start of the year. Pharos is positioning itself to capitalize on this trend with its compliance-focused infrastructure and partnerships, including one with GCL New Energy for solar-backed assets.
For market professionals, the emergence of Pharos could signal a significant shift in how traditional assets are managed and traded, potentially reshaping investment strategies as blockchain adoption accelerates in regulated environments.
Source: coindesk.com