Paradigm led a seed funding round for M1X Global to advance sovereign debt tokenization infrastructure.
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M1X, a platform for tokenizing sovereign debt, has raised $5.5 million in seed funding, led by Paradigm.
ChainCatcher reports that M1X Global, a startup specializing in tokenized sovereign debt, has raised $5.5 million in seed funding, led by Paradigm with participation from Breed VC and others. M1X Global previously partnered with the Republic of the Marshall Islands to assist in the issuance of the on-chain sovereign debt instrument USDM1. This product is a USD-denominated, 1:1 backed by US Treasury bonds, and natively issued by the sovereign nation on a public blockchain. USDM1 was initially issued on Stellar and is currently also available on Canton and Solana. Jordan Goldman, President and COO of M1X, stated that sovereign debt is one of the largest asset classes globally, but prior to USDM1, it did not exist in a native on-chain form. The company aims to establish USDM1 as on-chain sovereign collateral and expand its use in regulated financial markets. The initial application scenario for USDM1 is the disbursement of domestic government aid. Marshall Islands citizens can receive funds through the Lomalo wallet, enabling payments to be completed within seconds without relying on traditional correspondent banking networks. M1X also stated that the recent integration with Bank of Guam, an insurance bank under the U.S. FDIC, further connects USDM1 to regulated banking infrastructure.
Keling AI secures nearly $3 billion in funding, setting a new record for the largest funding round for a global video model company.
On July 2nd, Kuaishou's video generation big data model, Keling AI, secured nearly $3 billion in funding, with a post-investment valuation expected to reach $18 billion. This funding round sets a new record for the largest funding round ever for a global video big data model company, marking the official start of its independent commercialization process. The round was jointly led by CPE Capital, Guofang Venture Capital, BlueFive, Tencent, Zhongguancun Science City Fund (joint venture capital), and CITIC Securities, with participation from dozens of leading institutions. It is understood that this round of financing brought together top-tier industry capital such as Alibaba Cloud and Baidu, with active participation from leading entertainment industry players such as Huace Film & TV and Mango Industry Investors (Houwei Capital).
UK-based GEO company geoSurge raises $12 million in seed funding.
Mars Finance reports that London-based AI company geoSurge has announced the completion of a $12 million oversubscribed seed round of funding. The company will use the funds to advance its novel approach to AI visibility, helping brands shape how they are presented in generative AI systems such as ChatGPT, Gemini, and Claude. The round was led by AlbionVC, with participation from Play Ventures, Octopus Ventures, Celero Ventures, and Boost Capital. Existing investors Passion Capital and Tuesday Capital also participated, and the round received support from angel investors from Google DeepMind, Microsoft AI, and Signal AI.
On-chain perpetual contract exchange Extended completes $12.5 million strategic funding round, led by eToro.
PANews reported on July 3rd that, according to CoinDesk, digital brokerage eToro announced it led a $12.5 million strategic funding round for on-chain perpetual contract exchange Extended, with participation from Jump Crypto and Alber Blanc. eToro plans to directly integrate Extended's perpetual contract engine into Zengo, the self-custodial wallet it acquired for $70 million. This will allow users to trade on-chain derivatives while retaining asset custody. Extended also plans to introduce a wider range of DeFi products to its core platform in the future. Led by Ruslan Fakhrutdinov, former head of crypto at Revolut, Extended has processed over $245 billion in trading volume as of June, supports over 100 perpetual markets, and plans to expand into spot trading, tokenized RWA, and multi-asset collateralization.
Data center operator Switch launches $2 billion private funding round, led by a16z
Odaily Odaily that data center operator Switch has officially launched a $2 billion private placement, led by a16z. Sources familiar with the matter revealed that Switch's post-funding valuation (including debt) could approach $50 billion, with an equity value of approximately $19 billion (excluding new investments). Sources also stated that a16z will invest approximately $400 million, and Goldman Sachs and JPMorgan Chase are assisting in the round. This funding may prepare Switch for an initial public offering (IPO) as early as next year. (Bloomberg)
EDX Markets completes $76 million Series C funding round
According to Foresight News , Citadel-backed cryptocurrency exchange EDX Markets has completed a $76 million Series C funding round, led by SBI Holdings. This funding will support EDX's continued growth, enabling it to expand its trading, clearing, and settlement capabilities, accelerate product development, and scale its global operations.