5 years ago

Radix DLT Secures $4.1 Million to Revolutionize Decentralized Finance

  • Radix DLT, a UK-based company developing a decentralized finance protocol, has raised $4.1 million from LocalGlobe and TransferWise's Taavet Hinrikus

  • The funding will be used to bring Radix's protocol to the public, enabling the next generation of financial apps and services

  • Radix's protocol aims to solve the pain points of centralized financial systems, such as lack of access, poor liquidity, and high costs, by offering a permissionless and frictionless framework for developing and running innovative DeFi services

  • The company has developed two core innovations: Cerberus, a linearly scalable consensus algorithm, and the Radix Engine, a developer interface that allows quick public ledger deployments in a secure-by-design environment

  • This investment brings Radix's total funding to $10 million since 2013.

      • ProblemFinancial Services

      "Today’s centralised financial system has many pain points, including lack of access, poor liquidity, and high costs, creating an unequal system where wealth and regulations are controlled by a centralised body."

      Solution

      "Radix's protocol removes these frictions through a series of technological advancements, enabling the next generation of financial apps and services to be built on a permissionless, frictionless framework."

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