Galaxy Digital leads $7 million funding round for Tenbin to advance tokenization of gold and forex markets

New York-based tokenized asset startup Tenbin Labs has completed a $7 million financing round, led by Galaxy Ventures, with participation from Wintermute Ventures, GSR, FalconX, and others. Tenbin plans to utilize CME futures to enable blockchain-based tokenized trading of gold and foreign exchange currencies, offering fast settlement and low-fee services, as well as capturing basis yield through futures pricing. The company plans to launch a tokenized gold product this year, followed by high-yield forex tokens pegged to emerging market currencies such as the Brazilian Real and Mexican Peso, targeting DeFi users seeking alternatives to USD stablecoins.