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t54 Raises $5M Seed Round With Ripple, Franklin Templeton

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TLDR

  • t54 Labs raised 5 million dollars in a seed funding round co-led by Franklin Templeton and Ripple.
  • The company builds identity and risk tools for autonomous agents that conduct financial transactions.
  • Anagram and PL Capital joined the round along with several crypto-focused investors.
  • t54 operates on networks including XRP Ledger, Solana, and Base.
  • The startup plans to hire engineers and a developer relations lead to expand its platform.

t54 Labs has secured $5 million in seed funding to build a trust layer for agentic finance. Anagram, PL Capital, and Franklin Templeton co-led the round with support from Ripple and others. Founder Chandler Fang confirmed the raise and outlined plans to expand infrastructure and hiring.

The San Francisco-based startup launched in January 2025 and focuses on identity and compliance tools for autonomous agents. Fang said no investor received board or advisory seats in the round. He declined to share the valuation or timeline details.

Franklin Templeton and Ripple Back t54’s Seed Financing

Anagram and PL Capital co-led the seed round alongside Franklin Templeton. Ripple, Virtuals Ventures, Blockchain Coinvestors, and ABCDE also participated in the financing. Fang described the raise as the company’s first external funding round.

Fang said t54 employs 12 staff members and plans new hires. The company will add two full-time engineers and one developer relations or business development lead. These hires will support product development and institutional partnerships.

Tony Pecore from Franklin Templeton addressed the investment in a statement. He said, “t54 is building the trust and verification framework that institutional finance will require.” He added that institutions need infrastructure as autonomous agents enter financial markets.

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Fang stated that no investor secured governance rights in the company. He confirmed that the round structure remains undisclosed. He also declined to comment on valuation metrics.

Platform Targets Identity, Risk, and Credit for Autonomous Agents

t54 builds tools that verify and monitor AI agents conducting financial transactions. Fang said agents lack standardized identity checks and risk controls. He explained that businesses need accountability when autonomous systems move funds.

The platform includes four core components that address these gaps. It offers identity verification under a system called “know your agent.” It also runs a real-time risk engine that flags suspicious activity before settlement.

The company plans to extend credit lines to verified agents. Credit decisions will rely on identity records, risk scores, and transaction history. The system also combines identity, risk controls, and settlement in one interface.

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Fang said, “We’re building the full trust stack that lets businesses hand financial operations to autonomous agents.”

He added that blockchain serves as a settlement and accountability layer. The infrastructure operates across multiple payment rails.

t54 currently runs on the XRP Ledger, Solana, and Base networks. The company also created x402-secure for the Coinbase-incubated x402 agent payment protocol. Last month, Evernorth announced plans to integrate t54’s tools into its XRP Ledger treasury operations.

Evernorth aims to raise over $1 billion for institutional XRP holdings. Under the partnership, Evernorth will use t54 infrastructure for autonomous treasury management. Fang said the collaboration expands institutional deployment of the platform.

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Crypto World

21Shares Launches Strategy Yield ETP in Europe

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21Shares Launches Strategy Yield ETP in Europe

Crypto exchange-traded product (ETP) provider 21Shares has launched an investment product giving European investors access to a preferred stock issued by Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin.

The asset manager will list its 21Shares Strategy Yield ETP under the ticker “STRC NA” on Euronext Amsterdam on Thursday, the company said Wednesday.

The ETP is available to institutional and retail investors, offering a dividend backed by Strategy’s Bitcoin (BTC) treasury, which currently holds 717,722 BTC, valued at around $47 billion. With dividends set at a variable 11.25% annualized rate, the ETP represents one of the earliest structured, BTC-backed corporate securities available to European investors.

How the STRC ETP Works

The 21Shares Strategy Yield ETP with exposure to Strategy’s preferred stock STRC, officially known as Variable Rate Series A Perpetual “Stretch” Preferred Stock, is designed to act as a “cash-flow bridge” between traditional finance and Strategy’s Bitcoin treasury.

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21Shares said the ETP structure is intended to make the instrument easier to access for European investors through standard brokerage accounts, rather than requiring investors to buy the preferred shares directly.

“By combining high income potential with a familiar exchange traded structure, STRC offers both institutional and retail investors an efficient and accessible way to add yield to their portfolios,” 21shares president Duncan Moir said.

21Shares enters equity-linked ETPs

The company positioned the launch as its first equity-linked product, expanding beyond its traditional lineup of crypto-only ETPs, Moir noted.

He added that the move reflects the company’s broader mission to provide accessible exposure to digital assets.

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“Since our inception, we have focused on providing straightforward access to digital assets,” Moir said. “With this product, we are extending that expertise into equity-linked exposure tied to the Bitcoin ecosystem,” he added.

Related: Bitcoin ETFs post $258M inflows as institutional Q4 selling hits 25,000 BTC

Operating since 2018, 21Shares is one of the largest crypto ETP providers globally, managing about $5.3 billion across 60 ETPs on 13 exchanges as of Monday.

The company has continued its global expansion, launching a new exchange-traded fund in the US on Tuesday: the 21Shares Spot SUI ETF (TSUI), which has started trading on the Nasdaq.

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This follows a series of ETP launches by 21Shares, as asset managers continue to broaden the menu of regulated products tied to crypto markets for both institutional and retail investors.

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