Axelar Foundation Discloses $30 Million AXL Token Sale to Boost RWA Tokenization

The Axelar Foundation, which supports the Axelar Network interoperability protocol, disclosed on Tuesday a strategic AXL token sale worth $30 million. Investors included Arrington Capital, Distributed Global, and Electric Capital. The funds will be used to expand U.S. dollar access via stablecoins and support institutional tokenization of real-world assets (RWAs). AXL is currently trading at around $0.35, down 14% in the past 24 hours. The token's market cap is $325 million, with a fully diluted valuation (FDV) of $418 million. Axelar aims to connect institutional private blockchains for stablecoins and asset tokenization.