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Participation of OKX Ventures in UTXO Stack’s Initial Fundraising Round
OKX Ventures, a trailblazer in Web3 technology, is thrilled to announce its involvement in UTXO Stack’s initial fundraising round. UTXO Stack stands out as a modular platform designed for the creation of BTC Layer 2 blockchains. This seed round has seen collaborative leadership from SNZ and ABCDE, with participation from OKX Ventures alongside other notable entities such as Waterdrip Capital, Bitcoin Magazine, Matrixport, DRK Lab, and y2z Ventures.
Cipher, the mind behind the RGB++ Protocol and the Founder of UTXO Stack, expressed, “With the backing from this funding round, UTXO Stack is well-positioned to deliver a scalable UTXO Layer 2 solution for BTC, fostering seamless interoperability across various blockchains. This investment injects fresh energy into our ability to innovate, grow, and enhance our offerings.”
By simplifying the process for developers to kickstart BTC Layer 2 solutions revolving around the UTXO paradigm, UTXO Stack has positioned itself at the forefront of propelling the Bitcoin sector forward. The platform has seamlessly integrated the RGB++ protocol, boosting interoperability among parallel Layer 2s and BTC on the UTXO Stack by removing the need for cross-chain bridges. Furthermore, it has bolstered Layer 2 security through the staking of CHB, BTC, and other assets on the BTC Layer 1.
OKX Ventures: A Brief Overview
As a distinguished investment firm, OKX Ventures is a renowned player in the Web2 technology and crypto exchange arena. With an initial investment of USD 100 million, the company is dedicated to exploring unique blockchain ventures at a global level. Its focus lies in championing cutting-edge blockchain technological advancements, fostering the growth of the global blockchain industry, and making strategic investments for long-term success.
By pledging to support entrepreneurs who are at the forefront of driving industrial development in the blockchain sphere, OKX Ventures aims to cultivate technologically advanced enterprises and leverage its wealth of experiences and global resources to propel blockchain initiatives to success.
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