Layer 1 Blockchain Operator ZetaChain Secures $27 Million Funding to Pioneer Interoperability Standard

Layer 1 Blockchain Operator ZetaChain Secures $27 Million Funding to Pioneer Interoperability Standard

Crypto News – ZetaChain, a prominent player in the Layer 1 blockchain sphere, has successfully raised $27 million in its inaugural funding round, featuring notable investors from the cryptocurrency and trading realms.

Participating investors include prominent names such as Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, and Krust. The funding round marks a significant milestone for ZetaChain as it embarks on its journey. The precise valuation of the company following this investment remains undisclosed.

Established in 2021, ZetaChain is gearing up for the imminent launch of its mainnet. The core objective of the platform is to integrate diverse blockchains, encompassing Ethereum, Polygon, BSC, and even non-smart contract platforms like Bitcoin and Dogecoin, onto a unified infrastructure.

Revolutionizing Interoperability In a recent announcement, ZetaChain unveiled its aspiration to forge a novel standard for blockchain interoperability. The platform envisions equipping users with streamlined tools to manage their assets and data across multiple blockchains with greater ease.

Ankur Nandwani, a key contributor to ZetaChain, emphasized the mission of the project, stating, “ZetaChain’s purpose is to simplify managing assets and data across multiple blockchains, which remains a complicated and fragmented process that’s hindering hundreds of millions of new users joining the web3 ecosystem. Our EVM-compatible cross-chain smart contracts alleviate these issues by allowing decentralized app developers to build services that are faster, more secure, and easy to use.”

With over 27,000 decentralized app contracts already deployed on its network, spanning various sectors including DeFi, NFTs, social, identity, and gaming protocols, ZetaChain is poised for substantial impact. The platform’s testnet garnered participation from more than 1.7 million users, demonstrating its burgeoning potential.

As ZetaChain prepares to launch its mainnet and disrupt the landscape of blockchain interoperability, the successful funding round showcases robust support from a consortium of renowned investors in the crypto and trading realms.