Share this article
China Blockchain Conflux Gains $10M Investment From DWF
The investment firm bought the blockchain's native token after it signed a deal with China Telecom.
By Brandy Betz
Updated May 9, 2023, 4:09 a.m. Published Mar 1, 2023, 10:36 a.m.
Conflux, which recently agreed to build blockchain-based SIM cards with China's second-largest wireless carrier, received a $10 million investment from DWF Labs, a digital asset market maker and investment firm.
DWF Labs bought tokens of the China-based blockchain platform, which claims to be the only crypto company with approval to operate in the country after the government banned all crypto products in 2021.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"Conflux's recent partnership with China Telecom is a major milestone for the blockchain industry, and we believe that it demonstrates the potential for Conflux's technology to revolutionize how we think about blockchain-enabled products and services,” DWF Labs managing partner Andrei Grachev said in a statement.
Conflux's CFX token rose more than 8.4% after the announcement.
Read more: What Is a Consensus Mechanism?
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
What to know:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on the Solana blockchain, one of the first of its kind in the U.S.
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033.
Top Stories
