Home News Cross-chain protocol Multichain raised $60M

Cross-chain protocol Multichain raised $60M

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Binance Labs led a funding round for the Multichain (formerly Anyswap) cross-chain protocol, which raised $60 million in investments.

Thus, Three Arrows Capital, Sequoia China, DeFiance Capital, IDG Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures; Primitive Ventures, Magic Ventures and HashKey also participated in the round. Investors estimated the project at $1.2 billion.

Furthermore, Multichain provides infrastructure solutions for 25 popular blockchain ecosystems, including Ethereum, Binance Smart Chain, Fantom, Avalanche, Arbitrum, Moonriver, Polygon and Harmony.

The total value locked is more than $5 billion

The total value locked (TVL) of funds in the protocol is more than $5 billion. Moreover, the number of Multichain users has reached 300,000.

“Aligning with our plan to improve Web3, Multichain will integrate NFT (non-fungible token) Cross-Chain Bridge and our new anyCall solution for arbitrary cross-chain contract calls, supporting innovative NFT and DeFi (decentralized finance) DApps (decentralized applications) in cross-chain ecosystems”. The project blog says.

Multichain will also strengthen integration with the Binance Smart Chain (BSC) ecosystem. In which it will take a position as one of the recommended cross-chain bridges.

Binance Labs investments

Earlier in November, Binance Labs invested in the Star Sharks project as part of the development of the gaming sector in the BSC ecosystem.

Star Sharks is a community-driven metaverse. Participants, developers and investors can own, combine and trade NFT sharks. According to the press release, 80% of the revenue will go to token holders.

Recently, Binance Labs supported Figment, provider of blockchain infrastructure solutions. The latter raised $110 million as part of a Series C funding round. With the funds raised, Figment will add staking support among a larger number of Proof of Stake (PoS) blockchains and hire additional developers. According to the statement, this year, Figment’s institutional staking client base grew to more than 130, up from 31 the year before.

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