Multichain, a cross-chain protocol has raised $60 million in a seed funding round led by Binance Labs, the venture capital arm of the Binance cryptocurrency exchange. The round saw some other investors in the crypto space in attendance.
Multichain, which changed its name from Anyswap last week, has raised $60 million in a seed round led by Binance Labs, the company announced on Dec. 21.
Also, Sequoia China, IDG Capital, Primitive Ventures, DeFiance Capital, Circle Ventures, Hypersphere Ventures, HashKey, and Magic Ventures were all part of the fund-raising. These are the major VC firms and investors who participated in the raise.
The cross-chain protocol has been getting more money from Binance, but they’re also getting to know each other better. Binance’s smart contract platform, the Binance Smart Chain, now officially recommends Multichain as a way to connect bToken to other chains. This is because Multichain is a tool that can do this (BSC).
According to BSC, Multichain is “one of the biggest routers on BSC.” It also has a “non-custodial plus multi-party computation model to ensure the security of on-chain assets.”
Thanks Binance Smart Chain @BinanceChain for promoting #Multichain as officially recommended bridge🔥#Multichain‘s top priority is to guarantee the security of on-chain assets🏦 https://t.co/CEocRygXzq
— Multichain (Previously Anyswap) (@AnyswapNetwork) December 20, 2021
About Multichain (Anyswap)
Anyswap was first thought of as a cross-chain decentralized exchange when it was founded in July 2020. Multichain is a cross-chain router protocol (CRP) that allows people to work together on multiple networks, like Ethereum, Binance Smart Chain, Avalanche, Moonriver, and more.
More than $5 billion worth of money is now stored on Multichain, and more than 300,000 people have signed up to use it. People who work on Multichain say that it connects more public blockchains and crypto-assets than anyone else, at lower fees, faster bridging times and better security.
People who work on crypto algorithms, audits, and security are going to get a lot of use out of the money from the seed round.
