Pharos Network, a layer 1 blockchain platform focused on tokenized real-world assets, has raised $44 million in a Series A funding round. The round was led by a combination of traditional finance and crypto investors, including Sumitomo Corporation and Chainlink. The capital injection signals growing institutional interest in blockchain infrastructure designed for regulated financial markets.
The company is developing what it describes as an “asset-native” network, built specifically to support regulated financial activity at scale. Pharos targets a market it values at $50 trillion, reflecting the broad scope of real-world assets it aims to bring onto its platform. The network is engineered to meet the compliance and operational demands that traditional financial institutions require.
Pharos has already established partnerships with energy companies to support solar-backed digital assets, demonstrating an early focus on tangible, physical asset classes. These partnerships suggest the platform intends to move beyond conventional financial instruments and into emerging areas of asset tokenization. Solar-backed assets represent one of several categories the company is expected to support at launch.
The project reports millions of users currently active on its testnet, indicating substantial early-stage interest from developers and participants ahead of a public release. A mainnet launch is expected in the near future, though a specific date has not been disclosed. The testnet activity provides Pharos with data and stress-testing ahead of its full commercial deployment.
The involvement of Sumitomo Corporation, a major Japanese conglomerate, alongside crypto-native infrastructure provider Chainlink, reflects the dual audience Pharos is courting. Bridging legacy financial institutions with blockchain technology remains a central challenge in the real-world asset tokenization space. The composition of the funding round suggests Pharos is positioning itself as a credible player for both sectors.
Originally reported by CoinDesk.
