Real World Assets (RWA) platform Dow Protocol, which provides e-commerce working capital financing, has closed a $9 million seed round, with participation from OKX Ventures, MH Ventures, and Animoca Brands.

E-commerce working capital advance RWA platform Dow Protocol announced the completion of a $9 million seed funding round, with participation from MH Ventures, OKX Ventures, Animoca Brands, Arcane Group, Essentia Partners, and Quartet Group. Dow Protocol serves merchants of leading global e-commerce platforms, providing working capital advances based on their sales receivables and real operational data. Its underlying asset service system is embedded in mainstream e-commerce platforms, enabling direct access to merchants’ original operational data for credit approval and risk control. Meanwhile, via partnerships with these platforms, repayments are deducted directly from the platform side without passing through merchant accounts, controlling repayment risks at the source and building an industry-leading collection mechanism. On the funding side, Dow Protocol leverages the instant settlement capabilities of stablecoins to compress the lengthy loan disbursement process of traditional lending to as fast as same-day arrival. For the working capital market, which is highly sensitive to cash flow, disbursement speed itself is a value driver, so market participants are willing to pay a premium for this efficiency. Additionally, Dow Protocol advances the on-chain-native new logic of working capital advances, enabling advance terms to be executed with high-granularity programmability, and reconstructing the underlying operational logic of supply chain finance. Dow Protocol positions itself as a general-purpose pan-e-commerce PayFi RWA advance protocol, whose framework is scalable to meet supply chain finance advance needs across multiple scenarios including e-commerce, catering, payments, gaming, and AI computing power.