Radar Relay provides a wallet-to-wallet trading platform for ethereum tokens. Investors can connect their wallets to the platform to exchange tokens directly, without the startup ever taking any tokens into custody.
The company sought to raise the funds due to the platform's popularity, Curtis added. While the platform appears to be widely used, only a small portion comes from the U.S., which makes providing support for the vast majority of Radar Relay's users difficult.
The community ambassador program will see Radar Relay hire individuals fluent in various languages and able to provide support for users, he said. But according to Curtis, the startup's beta phase saw a notable amount of activity from users.
The funding effort was led by industry investment firm Blockchain Capital, the startup announced Wednesday. Tusk Ventures, Distributed Global, Reciprocal Ventures, Elefund, Slow Ventures, SV Angel, Kindred Ventures, Collaborative Fund, Breyer Capital, V1.VC, Kokopelli, Village Global, Chapter One and Digital Currency Group also contributed funds.
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