Variational completes $50 million Series A funding round

According to Fortune, Variational, a decentralized derivatives trading protocol, announced the completion of a $50 million Series A funding round led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures. Previously, the seed round financing was $10.3 million, led by Bain Capital Crypto. Variational is headquartered in the Cayman Islands and aggregates liquidity from large cryptocurrency exchanges and traditional financial market makers, providing on chain derivative trading including "real-world assets" (RWAs) such as oil and commodities.