Parallel Finance Doubles Valuation in $5M Funding Round

Parallel Finance is interested in working with strategic investor Coinbase Ventures on its ecosystem expansion and software plans, Ruan said. The protocol also plans to build on StarkWare’s StarkNet, a layer 2 “scaling” product that addresses Ethereum’s issues of slow speed and high transaction fees. Section 32, the venture capital firm, may help bring potential partners to the table as Parallel Finance moves to invest more in Web 3 projects.

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