Pharos Network, the Ant Group-backed Layer 1 blockchain founded by former executives experienced in building Alipay infrastructure and large-scale consortium chains, has raised $44mn in a Series A round at a near-$1bn valuation, bringing total funding to $52mn. Backers include Sumitomo Corporation's venture arm, Flow Traders, Chainlink, SNZ Holding and GCL New Energy.
Pharos Raises $44mn for Compliance-First Layer 1 Targeting Tokenized Assets
10 April 2026 - 09:30 CEST
By Sandmark staff
The Hong Kong-based project targets sub-second finality and up to 30,000 transactions per second via deep-parallel execution. Its Atlantic Ocean testnet has already onboarded millions of users and hundreds of millions of unique addresses ahead of the Pacific Ocean mainnet launch.
Tokenization momentum builds among institutions
Major banks including JPMorgan, HSBC and MUFG continue testing blockchain for faster settlement and greater efficiency. The Bank for International Settlements has started tracking this growing experimentation across global markets.
Tokenization converts real-world instruments – such as bonds, funds and commodities – into digital tokens on blockchain. It promises near-instant settlement, 24/7 trading and fractional ownership. The International Monetary Fund (IMF) notes programmable features could reshape capital markets, while flagging risks around fragmentation and systemic effects.
Onchain real-world assets, excluding stablecoins, reached roughly $24–27bn in early 2026, with potential to grow into trillions over the coming decade.
Compliance built into protocol addresses adoption barriers
Despite institutional interest, tokenized asset adoption faces hurdles. The Organization for Economic Co-operation and Development (OECD) cites legal clarity, interoperability and infrastructure gaps, while the International Organization of Securities Commissions has warned of risks in ownership rights, custody and counterparty exposure.
Pharos embeds compliance directly at the protocol level. It integrates Circle's USDC stablecoin and Cross-Chain Transfer Protocol for efficient settlement. Partnerships with Centrifuge support tokenized US Treasuries and structured credit, while ties with GCL New Energy target solar-backed assets.
Why it matters for onchain finance
As capital flows into tokenized markets, infrastructure balancing performance, decentralisation and regulatory readiness becomes essential. Pharos's compliance-first approach, backed by TradFi and crypto investors, targets the gap between pilots and production deployment.
Its mainnet launch, expected soon alongside a token generation event, will test whether this design can accelerate institutional uptake. Success could deliver more liquid, accessible versions of traditional assets on public blockchains.
