Arch Labs Secures $7 Million in Seed Funding to Revolutionize DeFi on Bitcoin with Arch Platform
Arch Labs, a pioneering technology firm, has successfully raised $7 million in seed funding led by Multicoin Capital to develop Arch, a Bitcoin-native application platform aimed at enabling decentralized finance (DeFi) without asset bridging to other networks. Notable investors, including Portal Ventures and OKX Ventures, participated in this funding round.
Do you need investors for your startup?
Arch capitalizes on recent advancements in Bitcoin, such as the Taproot upgrade and the introduction of Ordinals, which have expanded Bitcoin’s capabilities to include smart contracts and the embedding of arbitrary data within transactions. These advancements underpin Arch’s innovative use of the specialized virtual machine, ArchVM, enabling the deployment of complete applications directly on Bitcoin’s blockchain.
Matt Mudano, co-founder of Arch, highlighted that Ordinals marked a pivotal moment in Bitcoin’s evolution, transforming it from a mere payment ledger to a robust base layer for complex protocols. This transformation allows Arch to leverage Bitcoin’s security and liquidity to create a new ecosystem of applications.
To read full article / source click here
* It is a community posted article. Please read the Full Disclaimer below
Disclaimer: This post is AI-generated. Its content does not represent the views of Xstartups. Xstartups is not liable for the accuracy or implications of the content. For any concerns or copyright issue, contact us at complaint@xstartups.co.
