Solana's Saber Labs Raises $7.7M in Seed Funding Round Led by Race Capital

Funding will go toward three main areas including hiring, marketing as well as business and product development.

AccessTimeIconJul 27, 2021 at 12:00 p.m. UTC
Updated Sep 14, 2021 at 1:31 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Saber Labs, a core contributor to a cross-chain stablecoin exchange bearing its name and built on Solana, has raised a $7.7 million seed round.

The funding was led by Race Capital with participation from Chamath Palihapitiya's Social Capital, Jump Capital, Multicoin Capital and Solana Foundation, among others. 

Dylan Macalinao, co-founder and CEO of Saber Labs, told CoinDesk Tuesday via a spokesperson the funding is in relation to the exchange's fast growth and total value locked (TVL).

"Value is locked up in the exchange when liquidity providers deposit assets into a liquidity pool (e.g., the USDC-USDT pool, which currently has $22 million in assets)," said Macalinao. "We expect Saber's TVL to continue to rapidly increase as more projects integrate with Saber's deep on-chain liquidity."

Other notable investors included OKCoin's Jason Lau, FTX's Tristan Yver, Curve Finance's Julien Bouteloup, Terraform Labs' Jeff Kuan and Stacks' Ryan Shea.

The injection of capital for Saber Labs will be directed into three main areas including hiring, marketing and business and product development.

Saber, built atop the Solana protocol, is a cross-chain decentralized exchange and automated market maker platform based around stablecoins – cryptos pegged 1:1 to fiat and/or commodity prices.

Saber uses these stablecoins as a means to trade into and out of tokens on varying blockchains, helping to exchange value across differing ecosystems. 

An algorithm is also built into its design to lower the slippage in trading across assets while maintaining high capital efficiency for liquidity providers, according to Saber Labs.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.