RWA Projects Draw Over $169 Million as Pharos Network Leads Institutional Funding With $52 Million Raise
Key Takeaways
- •Eight visible real-world asset projects have disclosed more than $169 million in combined funding, according to Whale Factor's tracking of upcoming initiatives.
- •Pharos leads the visible funding table at $52 million, with Sumitomo, Chainlink, SNZ Capital, and Flow Traders identified among its backers.
- •Libeara raised $14 million for its institutional-RWA strategy for banks, with backing from Standard Chartered's venture arm SC Ventures and GSR, including a strategic round involving SC Ventures in June 2026.
- •Other disclosed raises include REAL Finance at $29 million, KiiChain at $26 million, Multipli at more than $20 million backed by Pantera Capital and Coinbase Ventures, LAKE at $12.4 million, Dow Protocol at $10.5 million, and NUVA Digital at $5.2 million.
- •Backers span venture firms, financial groups, trading firms, family offices, and blockchain infrastructure companies, and all tracked projects remain upcoming and pre-launch.
Real-world asset (RWA) projects are drawing institutional capital from across the financial and blockchain landscape, with Pharos Network leading the visible funding table at $52 million. Whale Factor tracked the capital flowing into upcoming RWA initiatives in a recent post on X, charting disclosed raises and backer lists across the sector.
The sector centers on representing traditional financial assets — such as funds, credit, or commodities — on blockchain rails in tokenized form. Eight visible projects have raised more than $169 million in disclosed funding, with backers spanning venture firms, financial groups, trading firms, family offices, and blockchain infrastructure companies. Among them, Libeara secured $14 million to support its institutional-RWA strategy for banks, drawing backing from Standard Chartered's SC Ventures and GSR in a growing wave of pre-launch infrastructure initiatives across markets.
Pharos Network Tops the Visible Funding Table
Whale Factor listed Pharos Network at $52 million in funding and identified Sumitomo, Chainlink, SNZ Capital, and Flow Traders among its backers. mix adds context beyond the headline figure: Sumitomo brings exposure to a major Japanese corporate group, Chainlink contributes established blockchain infrastructure, and Flow Traders adds trading-market experience to a group spanning institutional-infrastructure expertise.
REAL Finance follows with $29 million in disclosed funding, backed by Nimbus Capital, Magnus Capital, and Frekaz Group. KiiChain ranks next after securing $26 million from listed investors Nimbus Capital, Super Cycle Capital, and WTG Ventures.
Institutional Backing Extends Across the Sector
Multipli has raised more than $20 million across its funding rounds, with listed backers including Pantera Capital, a crypto-focused investment firm, and Coinbase Ventures, the venture arm of Coinbase. Spartan Group and Sequoia also appear among its investors.
Libeara has raised $14 million, according to the chart supplied by Whale Factor. GSR and SC Ventures appear among its listed financial backers, with SC Ventures operating as Standard Chartered's venture investment arm. Whale Factor specifically pointed to Libeara's institutional backing, referencing a strategic round involving SC Ventures in June 2026 and presenting the participation as direct financial-sector involvement.
LAKE has secured $12.4 million from listed investors including Artaize Invest, EMB Venture Capital, and MSM Family Office. Dow Protocol follows with $10.5 million in disclosed funding.
Capital Distribution Shows Multiple Infrastructure Approaches
Dow Protocol lists MH Ventures, Mapleblock, Animoca Brands, and HashKey Chain among its backers. NUVA Digital has raised $5.2 million from a listed investor group that includes Morgan Creek Digital, Ulu Ventures, and Animoca Brands.
Although the chart carries a "Top 10" label, it contains only eight visible projects. The two missing entries cannot be assessed from the image, and the supplied data should not be used to reconstruct those rankings.
Across the eight visible projects, disclosed funding exceeds $169 million. Capital comes from venture firms, financial groups, trading firms, and family offices, with blockchain infrastructure companies also appearing among the listed backers. The funding pattern centers on infrastructure rather than a single project category, and the listed projects show varied investor participation across the emerging RWA market. With the tracked initiatives characterized as upcoming and pre-launch, further disclosed raises and progress toward launch are the observable data points that would extend this funding picture.
The supplied data records funding and backers rather than indicating future market performance.
