Perp DEX Variational raises $50M in Series A funding

Variational, a decentralized crypto perpetuals exchange, has raised $50 million in a Series A funding round, Fortune reported. The company plans to use the capital to enhance its market competitiveness by introducing Real-World Asset (RWA) tokenization and to bring traditional financial liquidity on-chain. The round was led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures. Bain Capital Crypto previously led Variational's $10.3 million seed round.