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Sonic Labs completes $10 million in strategic financing, led by Galaxy to support expansion in the U.S. market.
At the Sonic Summit held in Vienna from May 6 to 8, Sonic Labs announced the completion of a $10 million $S strategic funding round led by digital asset and data center infrastructure giant Galaxy. This partnership will accelerate Sonic Labs' expansion in the U.S. market and provide key support for the development of its DeFi ecosystem.
Galaxy has a network of over 1,300 institutional trading counterparties, and this collaboration aims to bridge traditional finance with Sonic's high-performance blockchain infrastructure through its resources. Sonic Labs CEO Michael Kong stated that Galaxy's involvement will bring important market insights and resources to the ecosystem.
As a high-performance EVM-compatible chain, Sonic's solutions are attracting more and more institutions seeking enterprise-level blockchain services. This collaboration also reflects institutions' confidence in the transformative power of blockchain technology on financial infrastructure.
About Galaxy: Galaxy (TSX: GLXY) is a global leader in digital asset and data center infrastructure, headquartered in New York, with business covering areas such as institutional trading, asset management, staking, and tokenization technology.