ZetaChain Raises $27M to Enable Cross-Chain Interoperability

The Benefits of ZetaChain’s Chain-Agnostic Platform

On Aug. 16, Layer-1 network ZetaChain announced that it had secured $27 million in funding from a range of investors, including Blockchain.com, Human Capital, Vy Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, and Krust. This funding will be used to support the development of its chain-agnostic platform.

The ZetaChain protocol, which was launched in 2021, is designed to provide interoperability between different networks, allowing non-smart contract chains such as Bitcoin and Dogecoin to interact with the broader decentralized finance (DeFi) ecosystem. This means developers can use the platform to create omnichain decentralized applications (DApps), where all assets and data can be accessed from a single platform, regardless of the blockchain on which they were created or stored.

So far, ZetaChain has seen more than 27,000 DApps deployed on the platform, including cross-chain DeFi, nonfungible tokens, Web3 identity, and gaming protocols. Additionally, over 13 million transactions have been performed on its testnet by over 1.7 million users.

The chain-agnostic platform offered by ZetaChain is a major benefit for users of cryptocurrencies such as UK Crypto, XDC Crypto, Veracity Crypto, Uphold Crypto, XDB Crypto, TrueFi Crypto, Wonderland Crypto, Vauld Crypto, Tone Crypto, and Web 3.0 vs Web3.

The Core Team of the Crypto Space Platform

Since its inception, the crypto space platform has gathered a core team of contributors, including Ankur Nandwani (ex-Coinbase, Brave and 0x), Panruo Wu (early contributor to THORchain) and Brandon Truong (ex-BuzzFeed, Udacity and Yada). In addition, the core team includes former employees of Cosmos, Ignite, ConsenSys and other blockchain projects.

“Our EVM-compatible cross-chain smart contracts, such as XDC crypto, TrueFi crypto, Vauld crypto, Tone crypto and Web 3.0 vs Web3, have the potential to address the issues of speed, security and usability for decentralized app developers,” Nandwani said in a statement.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space, such as Uphold crypto, Wonderland crypto and XDB crypto.