2 years ago
LayerZero, a startup addressing the occupation of interoperability betwixt blockchains, has raised $155 cardinal astatine a $1 cardinal valuation successful a circular co-led by Andreessen Horowitz (a16z), the task superior limb of crypto speech elephantine FTX and Sequoia Capital, the institution announced Wednesday.
Other backers successful the Series A hold circular included Coinbase (COIN) Ventures, PayPal (PYPL) Ventures, Tiger Global and Uniswap Labs.
LayerZero offers a protocol that unites decentralized applications (dapps) crossed multiple, disparate blockchains.
The startup precocious launched Stargate, a cross-chain liquidity transportation protocol.
LayerZero announced a $6 cardinal Series A round co-led by Multicoin Capital and Binance Labs past September arsenic the institution came retired of stealth.
“By unlocking cross-chain composability, LayerZero is enabling developers to physique decentralized applications that simply weren't imaginable before," said Ali Yahya, wide spouse astatine Andreessen Horowitz, successful the property release.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Brandy covers crypto-related task superior deals for CoinDesk.
Sign up for The Node, our regular newsletter bringing you the biggest crypto quality and ideas.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 