Illustration of Variational's $50 million funding for real-world asset perpetuals on a blockchain trading platform.
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Variational raises $50 million for real-world asset perps

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Peer-to-peer trading startup Variational has secured $50 million in a Series A funding round to expand its onchain derivatives platform focused on real-world assets.

The XRP Ledger (XRPL) now holds about $3.6 billion in real-world assets (RWA), excluding stablecoins, marking the biggest 30-day jump in its RWA category. This growth centers on tokenized energy commodities, particularly the JMWH token backed by energy companies. The surge highlights XRPL's role as a ledger for energy contracts and traceability.

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Figure's Home Equity Line of Credit token, known as Figure Heloc, has surged to become the tenth-largest cryptocurrency by market size, exceeding $15 billion. However, the token faces criticism for its limited onchain activity and liquidity. Supporters defend it as a legitimate real-world asset on the blockchain.

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