Multichain’s Major Leap Forward
Just last week, in a move that left wallets buzzing, AnySwap rebranded to Multichain and promptly raised a whopping $60 million in a seed funding round! Led by Binance Labs, this financing is set to catapult Multichain into the spotlight of the decentralized finance (DeFi) space.
Heavy Hitters in the Funding Round
The $60 million didn’t materialize from thin air; major players joined the fun. Notable venture capital firms such as Sequoia China, IDG Capital, Three Arrows Capital, and others jumped in to back this revolutionary protocol. With the backing of such industry giants, Multichain is flexing its muscles!
Building Bridges, Literally
Binance isn’t just throwing money around like confetti. Multichain has been officially endorsed by Binance Smart Chain (BSC) as a go-to tool for bridging bTokens across chains. This relationship underscores Binance’s commitment to enhancing the user experience in cross-chain transactions. As Multichain stated, they’re now “one of the biggest routers on BSC,” ensuring that users can securely navigate the fiercely competitive crypto landscape.
A Robust Future Ahead
Launched as AnySwap in July 2020, the platform has undergone significant evolution, now serving over 300,000 users with more than $5 billion locked in value. Multichain connects a plethora of public blockchains, making it a key player in optimizing transaction fees and bridging times—while ramping up security. Talk about a win-win!
Future Plans and Team Growth
The freshly minted funds will not just sit in a vault. Multichain plans to bolster its team and ecosystem with hires focused on crypto algorithms, security audits, and development efforts. This kind of investment in human capital is vital for scaling securely and efficiently in the fast-paced crypto domain.
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