ピア・ツー・ピア（P2P）取引スタートアップのVariationalは、現実資産（RWA）に特化したオンチェーンデリバティブプラットフォームの拡充を目指し、シリーズAラウンドで5000万ドルを調達した。
ケイマン諸島に拠点を置く同社によると、今回の調達はDragonflyが主導し、Bain Capital CryptoおよびCoinbase Venturesが参加した。調達した資金は、金、銀、銅、WTI原油などの資産に連動する無期限先物のラインナップ拡大に充てられるほか、伝統的市場とオンチェーン市場からの流動性の集約に活用される予定である。
X（旧Twitter）上での初期の反応では、Dragonfly主導によるオンチェーンRWA無期限先物向け5000万ドルの資金調達が注目を集めている。ユーザーからは、現物資産ではなくデリバティブの流動性に焦点を当てている点や、金・石油といった商品（コモディティ）を通じたTradFiとDeFiのブリッジ構築、そして流動性の低い市場での執行力を高めるためのHyperliquidなどの競合プラットフォームとの比較といった意見が寄せられている。
The market is obsessed with tokenizing spot real-world assets, but the real volume will be in derivatives. Dragonfly and Bain leading a $50 million round for Variational shows exactly where the smart money is moving.
— Murtuza J Merchant (@murtuza_merc) 2026年5月21日
Trying to build deep order books for every new on-chain stock…
Besides AI, this week perps has been dominating the timeline and sparked new interest with Variational’s $50M Series A raise (led by Dragonfly, with Bain Capital Crypto and Coinbase Ventures).
— Eli5DeFi (@Eli5defi) 2026年5月21日
The on-chain perpetual futures space is heating up fast.
Let's quickly dive in three… pic.twitter.com/A25CdhtxoZ
1/8
— Perp_Zdec (@0x_cryptodex) 2026年5月21日
Variational just raised $50M Series A and launched on-chain RWA perps 🔥
Led by Dragonfly, with participation from Bain Capital Crypto + Coinbase Ventures.
You can now trade perpetuals on gold, silver, copper, and WTI crude directly onchain.
This is a serious TradFi → DeFi… pic.twitter.com/OnH9UXPg1T
Variational raises $50M to bring real-world assets like securities and credit products onto blockchain, enabling fractional ownership and faster, transparent trading for institutions. Investor confidence in tokenized assets grows. #RealWorldAssets #Tokenization #Blockchain…
— Tokenized Finance Alert (@AboutRWAs) 2026年5月21日
Peer-to-peer trading startup Variational raises $50 million for real-world perps in funding….
— Qwinah (@Qwinahh) 2026年5月21日
My read:
Funding is a signal in this market because real capital doesn’t show up for vibes — it shows up for an edge.
Could be noise. I’m watching for
AIによるレポート AIによって生成された画像
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Michael van de Poppe says Hyperliquid’s surge and renewed interest in AI-focused crypto projects signal a broader return of risk appetite in altcoins. He highlighted recent gains in the HYPE token and pointed to undervalued AI-linked projects as key drivers.
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Digital Asset Holdings is pursuing $300 million in new funding through its latest capital raise. The company operates the Canton Network and has secured leadership from a veteran crypto venture capital firm for the effort.