Decentralised finance protocol Radix DLT has reportedly raised $4.1m in a new funding round.
The capital injection was supplied by seed-focused investment firm LocalGlobe and TransferWise co-founder Taavet Hinrikus, according to a report from TechCrunch.
Radix previously raised $1.9m in an equity round, the article states.
The company offers an alternative, adaptable framework for financial applications which can quickly be developed. Its system offers a native functionality for projects, developers, communities and market makers to use APIs.
Radix’s CEO told Crunchbase that it is not looking to become the general purpose platform, but a specialised set of tools specifically for the decentralised finance space.
In a public test, the company claims to have processed one million transactions per second, which is five-times more than Nasdaq.
Earlier in the month, cryptocurrency compliance solution Chainalysis completed a $13m Series B round. The capital was raised to aid its the growth of its government relationships, as well as unite the public and private sectors.
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