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Axelar Foundation discloses $30 million in AXL token sales as it expands interoperability protocol

Axelar Foundation $AXL raises $30M to expand interoperability The Axelar Foundation has raised $30 million through AXL token sales, with backing from Arrington Capital, Electric Capital and others. Some tokens came from community program allocations and are subject to six to 12-month lockups. The funds will help expand stablecoin access and support institutional tokenization of real-world assets (RWAs). Axelar, an interoperability protocol competing with Wormhole and LayerZero, aims to connect institutional private blockchains while maintaining a permissionless, non-custodial and open-source framework, The Block reported.

EXCLUSIVE: Axelar Foundation discloses $30 million in AXL token sales as it expands interoperability protocol

Axelar Foundation announces a strategic AXL token sale worth $30 million, with Arrington Capital, Distributed Global, Electric Capital and others participating in the purchase. Axelar Foundation is not the only seller in this transaction.