Layer1 blockchain developer Pharos has completed an $8 million funding round, with Lightspeed Faction and Hack VC leading the investment.

BlockBeats News, November 9th, according to The Block, Layer1 blockchain developer Pharos has completed an $8 million seed round of financing. The round was led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic investor. Other investors include Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion, and Chorus One.

Pharos is building a new Layer 1 blockchain tailored for fintech use cases such as real-time payments and RWAs.