Sonic Labs, a UK-based blockchain firm, has announced a significant development in its trajectory, securing $150 million in funding for its expansion into the US.
US Market Expansion
Sonic Labs announced its entry into the US capital markets, securing $150 million in funding. This decision was made possible following the approval of a governance proposal that gained 99.98% support. The allocated funds will allow the company to issue 150 million of its native ‘S’ tokens, setting the stage for further development.
Key Goals
This development marks a pivotal step for Sonic Labs, as the company aims to address historical challenges stemming from its origins with Fantom. The renewed tokenomics structure allows the company to retain only 3% of the total token supply, differing from many competitors who retain up to 80%. This limits treasury flexibility and the ability to pursue strategic growth opportunities.
New Initiatives and Partnerships
Sonic Labs plans to partner with custody provider BitGo to create a regulated investment vehicle. As part of its US expansion, a dedicated entity, Sonic USA, will be established to focus on regulatory compliance and strategic partnerships. One of the goals is to enhance engagement in Washington and strengthen its market positioning through private investments in public equity.
Sonic Labs' decision to expand into the US market underscores its confidence in bridging traditional and decentralized finance, potentially opening new avenues for growth.
