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As the crypto industry continues to grow, the community is closely watching the investments of crypto company founders and industry leaders. One such founder who recently made a huge investment is Ripple’s Chris Larsen. 

Yellow Network has secured $10 million in seed funding led by Ripple’s co-founder and Silicon Valley pioneer, Chris Larsen.

Larsen claimed the new project aims to tackle liquidity fragmentation in crypto trading and sets new standards for the digital asset ecosystem. Additionally, the chain-agnostic network is built on state channel technology and provides capital efficiency, reduced latency and scalability.

The decentralized network is also backed by Consensys, GSR, NxGen, MV Global, Gate Labs, ZBS Capital, Moonrock Capital, Math, Cobo, NOIA Capital and LD Capital.

Showing his support for the Yellow Network, Larsen claimed the new project is “essential for the new players” and has the ability to “deliver fast trade execution and capital efficiency.” 

The next phase of the decentralized protocol will focus on preparing the launch of the native token of the Yellow Network, YELLOW, scheduled for the fourth quarter of 2024. 

According to the press release, the Yellow Network also plans to introduce a liquidity-locking campaign, which will allow the community to participate actively in the network’s expansion through liquidity mining. Yellow Network also plans on integrating Ripple’s XRPL EVM sidechain. 

Yellow Network’s CEO Louis Bellet, stated: “Having Chris Larsen's support is an incredible validation of our efforts. His contribution to Ripple and online finance transformed how the world perceives and utilizes blockchain technology.”

“His [Chris Larsen] involvement gives us the confidence to push forward and reshape how digital asset markets function.”

For the uninitiated, decentralized clearing refers to the process of conducting transactions, usually in digital assets, without relying on a third party like a central bank or financial institutions.