Surf Raises $15M to Build AI Model Tailored to Crypto Research

• Surf raised $15 million to develop "Surf 2.0" and launch an enterprise product aimed at institutional users.
• The firm said it has generated more than 1 million research reports since July and is seeing 50% month-over-month growth.

Surf, an AI research and intelligence platform focused on digital assets, has raised $15 million in a funding round led by Pantera Capital, with participation from Coinbase Ventures and Digital Currency Group (DCG), the company said in a press release Wednesday.

The San Francisco-based startup said the funds will go toward building Surf 2.0, a new version of its crypto-focused AI model, and expanding its enterprise offering.

The company pitches itself as an alternative to general-purpose large language models (LLMs) by training proprietary systems specifically for digital asset analysis and pairing them with crypto-native datasets.

The platform uses a multi-agent setup that analyzes inputs such as social sentiment, on-chain activity and token and market behavior, delivering outputs through a chat-style interface designed to cut down on manual research.

Surf 2.0 will add a more advanced model, expanded proprietary datasets and new agents designed to execute multi-step workflows that are typically handled by experienced analysts, the company said. Surf Enterprise will include dedicated infrastructure and enhanced security tooling aimed at meeting institutional requirements.

"When people make financial decisions, they want information they can trust. Generic AI tools aren't built for that," said Ryan Li, Surf’s co-founder and CEO.

Since launching in July, Surf said it has reached millions in annual recurring revenue, generated more than 1 million research reports, grown 50% month over month, and is used by 80% of top exchanges and research firms.

Read more: Pye Finance Raises $5M Seed Round Led by Variant and Coinbase Ventures

• As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
• GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
• Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

• Bhutan introduced TER, a sovereign-supported gold-backed token issued via Gelephu Mindfulness City and custodied by DK Bank, offering a blockchain-based representation of physical gold.
• The token runs on Solana, giving international investors digital portability and on-chain transparency while mimicking the experience of traditional gold purchases.
• TER follows Kyrgyzstan’s USDKG launch, highlighting a growing trend of smaller nations issuing asset-backed digital currencies tied to audited reserves as part of broader economic and technological strategies.

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