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Sei Labs Raises $30M for Trading-Focused Layer 1 Blockchain

Sei Labs, a contributor to the Sei blockchain, has raised $30m in a funding round led by Jump Crypto, Distributed Global, Multicoin Capital, Asymmetric, Flow Traders, Hypersphere and Bixin Ventures. The funds will be used to expand Sei's footprint in the Asia-Pacific region and to gain strategic partners. The open-source Sei blockchain is focused on asset trading and is optimised to allow decentralised exchanges and trading apps to offer users a fast, scalable user experience. Its public testnet has attracted more than 3.6 million unique users since it went live on 13 March.

(By Brandy Betz)

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