Parallel Finance Doubles Valuation in $5M Funding Round

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Par­al­lel Finance is inter­est­ed in work­ing with strate­gic investor Coin­base 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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