Rho Labs secures €3.8M funding to help traders manage crypto interest

Rho Labs, the developer of Rho Protocol, the world’s first cryptonative interest rates market, announced that it has secured $4M (approximately €3.8M) in a seed funding round led by CoinFund.

Founded in 2015, CoinFund is a cryptonative investment firm. The company invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralisation technologies, and key enabling infrastructure.

Alex Felix, co-founder, and Chief Investment Officer of CoinFund says, “We are thrilled to support Rho Labs as they fill a critical gap in the crypto ecosystem with a marketplace of perpetual products to normalise funding and forward rates between CeFi and DeFi. Rho Labs is built by capital markets professionals to serve the budding credit opportunity.”

Other participating investors include Auros, Flow Traders, and other existing investors, including Speedinvest.

Rho Labs: First crypto-native rates market

Founded by Alex Ryvkin, Rho Labs offers trading of staking, lending, and perpetual future funding rates in a single platform.

The platform has turned perpetual funding into a tradable asset class, creating new opportunities for leveraged trading, basis trading, and yield strategies.

This platform is especially useful for institutions and issuers of ETFs and stablecoins. Since launching in beta last June, Rho has processed over $7B of notional volume.

Alex Ryvkin, Founder of Rho Labs comments, “We are very grateful to CoinFund and all our investors for their trust and support. Since our launch in 2022, we have observed an evolution of crypto markets with rates, especially perp funding and staking, becoming a critical component of crypto traders’ portfolio returns. With the backing of some of the most reputable VCs in TradFi and Web3 and some of the most respected liquidity providers in the space, we are well-positioned to execute our vision of building a robust and reliable rates market for the blockchain ecosystem, contributing to its maturity and RWA future-readiness.”