Ripple’s Chris Larsen leads $10m investment in Yellow Network
Larsen's investment will help the Yellow Network team bring their blockchain solution to market and address challenges facing crypto traders. In a Sept. 17 announcement, Yellow Network said Larsen's investment reinforces the network's crucial role in the crypto space
Yellow Network, a web3 blockchain platform for decentralized clearing of digital assets, raised $10 million in a seed round led by Ripple co-founder Chris Larsen.
Larsen's investment will help the Yellow Network team bring their blockchain solution to market and address challenges facing crypto traders. In a Sept. 17 announcement, Yellow Network said Larsen's investment reinforces the network's crucial role in the crypto space.
Yellow Network's clearing system is a layer 3 peer-to-peer protocol utilizing state channels to facilitate trading and settlement via smart clearing.
Decentralized clearing allows for the settlement of financial transactions between two parties without relying on centralized intermediaries, removing the need for a clearinghouse service typically seen in traditional finance.
The project, which is preparing for the launch of its native token, offers an ecosystem that supports decentralized finance experiences for digital asset exchanges, brokers, and traders.
