UTXO Stacks, a remote provider of a modular BTC Layer 2 blockchain launch platform, received an undisclosed amount in Seed funding.
The round was led by ABCDE and SNZ, with participation from OKX Ventures, Bitcoin Magazine, Waterdrip Capital, Matrixport, y2z Ventures and DRK Lab.
The company intends to use the funds to expand operations and its development efforts.
UTXO Stack aims to enable developers to initiate BTC Layer 2 solutions based on the UTXO model. The platform is integrated with the RGB++ protocol, enhancing interoperability between BTC and parallel Layer 2s developed on UTXO Stack, eliminating the need for cross-chain bridges. Additionally, it bolsters Layer 2 security through the staking of BTC, CKB and other BTC Layer 1 assets.
To learn more about UTXO Stack, click here.
FinSMEs
05/04/2024