March 12, 2025
Axelar Foundation has completed a $30 million token sale with backing from key investment firms, including Arrington Capital, Distributed Global, Electric Capital, Laser Digital, C² Ventures, Plassa Capital, and Wagmi Ventures. The fundraising process took place over the past six to twelve months, with a portion of the capital derived from unlocked AXL tokens designated for community programs. Details on the token pricing were not disclosed.
The foundation plans to allocate the funding toward expanding its blockchain interoperability network, with a particular emphasis on increasing access to U.S. dollar-pegged stablecoins and facilitating real-world asset (RWA) tokenization. These efforts are aimed at driving institutional adoption through Axelar Network, bolstering its cross-chain infrastructure and financial connectivity.
Axelar’s roadmap includes integrating private blockchains tailored for institutional use cases, particularly in stablecoin and asset tokenization sectors. Sergey Gorbunov, co-founder of Axelar and CEO of Interop Labs, emphasized that the network's permissionless, non-custodial, and open-source framework is designed to meet the needs of financial institutions seeking interoperability solutions that mitigate custodial risks and vendor dependencies.
About Axelar Foundation
Axelar Foundation oversees the development and expansion of Axelar Network, a decentralized interoperability protocol enabling cross-chain communication. The network facilitates secure and efficient transactions between multiple blockchain ecosystems, supporting enhanced asset transfers and connectivity.
Website: https://www.axelar.foundation/
X: @AxelarFDN
About Investor
Arrington Capital
Arrington Capital is a venture firm specializing in digital asset investments. Established in 2017, the firm focuses on funding blockchain infrastructure projects and decentralized finance (DeFi) innovations across various market stages.
Location: Miami, Florida
Website: https://www.arringtoncapital.com/
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