Sei Labs, a contributor to the Sei blockchain, has raised $30m in a funding round led by Jump Crypto, Distributed Global, Multicoin Capital, Asymmetric, Flow Traders, Hypersphere and Bixin Ventures. The funds will be used to expand Sei's footprint in the Asia-Pacific region and to gain strategic partners. The open-source Sei blockchain is focused on asset trading and is optimised to allow decentralised exchanges and trading apps to offer users a fast, scalable user experience. Its public testnet has attracted more than 3.6 million unique users since it went live on 13 March.

Sushi, the developer of the SushiSwap decentralized exchange, plans to release a decentralized derivatives exchange called Vortex on the Sei blockchain in the Cosmos ecosystem.

After securing a total of $70 million in ecosystem funding in just eight months since its inception, Cosmos based DeFi Layer 1 blockchain — Sei — is looking to expand into Asia in the year ahead.

Sei, the fastest Layer 1 blockchain purpose-built to give traders an unfair advantage, today announced it has partnered with Graviton Accelerator, a web3 accelerator program focused on boosting the web3 ecosystem in India.