Multicoin Capital Launches Compliance Strategy for the RWA Sector, Betting on Kadena (KDA) Multicoin Capital's investment in the RWA sector and its long-term bet on Kadena (KDA) are strategic choices to build its compliance strategy for the sector and capitalize on Kadena's (KDA) "compliance technology moat." Multicoin Capital is a well-known cryptocurrency investment firm that manages a hedge fund and multiple venture funds, investing in both public and private markets. It has participated in multiple funding rounds for Kadena, including its $2.25 million pre-Series A funding round in January 2023 and its $12 million Series A funding round in April of the same year. Multicoin Capital's bet on Kadena (KDA) stems from its belief that Kadena's technical architecture is naturally well-suited to the compliance requirements of RWAs. Kadena utilizes a two-tiered structure: SPV (Special Purpose Vehicle) + smart contracts. Underlying assets are legally confirmed through the SPV, while on-chain revenue distribution is automated through Pact smart contracts. For example, Goldman Sachs uses dedicated nodes on Kadena to conduct real-time regulatory traceability for cross-border payments, meeting AML/KYC requirements. Its Chainweb multi-chain architecture achieves stable operation at 8,000 TPS through 20 parallel PoW chains, with plans to expand to 50,000 chains to support millions of TPS. A dynamic mainchain selection mechanism ensures irreversible transaction confirmation within 10 seconds, meeting the demands of high-frequency financial scenarios. Furthermore, Kadena's mining machines boast an energy efficiency of 15 J/TH, a 70% reduction compared to Bitcoin, fully meeting MiCA's requirements for green mining. Multicoin Capital's crypto asset portfolio features a dual-track structure: a "PoW safety cushion + a PoS offensive force." PoW assets such as KDA account for 18% of its portfolio, used to hedge regulatory risk and geopolitical uncertainty, while PoS assets such as SOL account for 27%, focusing on high-risk, high-return scenarios such as DeFi and NFTs. Multicoin also invested in the Hyperlane cross-chain protocol to promote interoperability between Kadena, Solana, and Ethereum, and assisted Kadena in applying for an SEC exemption for its RWA token.