Dharma Labs secures $7 million by 7 companies, including Ripple’s Xpring fund, to build Dharma Lever

As reported by CoinDesk, Dharma Labs, a protocol for generic tokenized debt agreements, has secured $7 million in funding by 7 companies, including Ripple’s Xpring. The other 6 companies are: Green Visor Capital, Coinbase Ventures, Polychain Capital, Y Combinator, Passport Capital and Blockchange.

Dharma Labs’ first product will be Dharma Lever, a solution enabling loans for traders and large crypto holders. Dharma Level promises it will work directly from a trader’s wallet, without the need for a special extension, providing instant margin loans for cryptocurrency traders and high-volume investors.