Overview
- Cancore closed a $7.2 million seed round Wednesday backed by Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures and Proof of Talk.
- The company positions its product as a “Liquidity OS for Tokenized Finance,” a non-custodial execution and settlement layer that runs atomic cross-network trades so assets stay on their home chains.
- Cancore uses cryptographic conditions similar to hash time-locked contracts to ensure trades either settle in full on both sides or automatically refund, avoiding wrapped tokens and custodial escrow.
- The startup has published on-chain metrics showing roughly $50 million to $53 million in cumulative volume and about $538,000 in protocol revenue while reported trade counts vary between about 84,000 and 125,000, with a large volume spike in a single eight-day window in September.
- The seed capital will fund wider connectivity to EVM chains and Tron, the onboarding of more real-world assets, and development of agentic AI trading and automated execution tools that could let institutions trade tokenized assets without surrendering custody; observers can verify growth on the public Dune dashboard.