Bitcoin-native application platform developer Arch Labs has raised $7 million in a seed round led by Multicoin Capital.
Arch Labs, the team behind the Bitcoin -native application platform Arch, has raised $7 million in a seed funding round.
Arch began raising for the round in March and closed it quickly in April due to an "extraordinary" amount of investor interest, Matt Mudano, co-founder of Arch, told The Block. The round was structured as a simple agreement for future equity with token warrants, Mudano said, declining to comment on the valuation.Arch claims to be the first Bitcoin-native application platform, bringing "bridgeless" trading directly to the Bitcoin blockchain.
As for users, Arch-based applications will be easy to engage with no matter which Bitcoin wallet they use, Mudano said. "There is no need to bridge assets or download special wallets to engage with applications on Arch," he said. "This drastically reduces friction and improves the user experience.
"At that time, there will be an incentivized points program to help bootstrap the ecosystem and showcase the first cohort of applications to build and launch on Bitcoin," Mudano said.
Crypto Ecosystems Deals Defi Layer 2S And Scaling Markets Startups Token Projects Venture Capital Bitcoin Breaking Exclusive Quote Seed &Amp Pre-Seed
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Smart Bitcoin Statement Issued by Michael Saylor as BTC Dumps 4.15%Prominent Bitcoin advocate Saylor has made smart Bitcoin statement, addressing his X community
Read more »
Roger Ver Arrest Major Statement Made by Samson MowBitcoin maximalist Samson Mow has shared his take on recent arrest of Bitcoin OG Roger Ver
Read more »
Gayatri Sarkar, CEO Of Advaita Capital Will Ignite Diversity And Ethical Investing In Venture CapitalHessie Jones is an Author, Strategist, Investor and Data Privacy Practitioner, advocating for human-centred AI, education and the ethical distribution of AI in this era of transformation.
Read more »
Countdown to Bitcoin Halving: A Feast of Opportunities in the Bitcoin EcosystemAs the Bitcoin halving countdown begins, which segments and tracks within the Bitcoin ecosystem deserve attention?
Read more »
Ethereum (ETH) Capital Inflows Pales in Comparison to Bitcoin (BTC)Crypto Blog
Read more »
Bitcoin Layer-2 Builder Botanix Labs Raises $8.5M From Polychain Capital, OthersJamie Crawley is a CoinDesk news reporter based in London.
Read more »