ChainCatcher news, according to Cointelegraph, the decentralized clearing network Yellow Network has completed a $10 million seed round financing, led by Ripple co-founder Chris Larsen, with participation from Consensys, GSR, NxGen, MV Global, Gate Labs, ZBS Capital, Moonrock Capital, Math, Cobo, NOIA Capital, and LD Capital.Yellow Network is a new type of decentralized clearing network aimed at addressing the inefficiencies in cryptocurrency.

ChainCatcher news, the decentralized clearing network Yellow Network has launched its testnet phase. According to the team, the testnet will utilize a clearing system (clearing synchronization). The focus is on testing key functionalities of the trading terminal, including but not limited to: opening and closing clearing channels with counterparties; off-chain market trading; using blockchain-hosted swaps for trade settlement; deploying broker nodes and mining liquidity. Upcoming features include cross-chain settlement and enhanced security measures.