Rho Labs develops Rho Protocol, marketed as the world’s first cryptonative rates exchange. The platform aggregates perpetual future funding, staking, and lending rates into a single, highly capital-efficient marketplace, turning perpetual funding into a liquid tradable asset class. Rho enables leveraged trading, basis trading, and enhanced yield strategies and is positioned to serve institutions as well as ETF and stablecoin issuers. Since its beta launch in June last year, the protocol has facilitated over $7 billion of notional volume. The company plans to use the new funding to expand platform capabilities and to build a robust, reliable rates market for the blockchain ecosystem and RWA future-readiness. Funding was led by CoinFund with participation from Auros, Flow Traders and existing investors including Speedinvest. Rho Labs, led by founder and CEO Alex Ryvkin, builds Rho Protocol, an on-chain, non-custodial interest rate futures and swaps market. The protocol enables on-chain rates trading via a proprietary concentrated-liquidity virtual AMM (vAMM) and a margin engine. It allows users to trade rates such as staking rewards and perpetual funding rates 24/7, free of counterparty risk and with extreme capital efficiency. The company aims to create a capital-efficient market for crypto-specific rates, including staking, digital asset lending, and funding rates, to serve institutional crypto traders. Rho Labs plans to use the $2.2M pre-seed to expand operations and business reach and will launch a private beta of its market on Arbitrum with select global trading partners later this year. The company is based in London, UK.

Total raised

$6M

Funding rounds

2

Latest round

Seed

Latest activity

Feb 2025