News
Owlto Finance, Leading Blockchain Interoperability Protocol, Raises Funding at $150M Valuation
Hong Kong, Hong Kong, July 17, 2024, Chainwire
Owlto FinanceThe interoperability protocol with nearly 2 million users in over 200 countries/regions, has raised funding at a valuation of $150 million in its new round backed by Matrixport.
Owlto Finance has already raised $8 million in its May strategic funding round led by Bixin Ventures and CE Innovation Capital (CEiC), followed by major VCs including Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma, and SNZ Capital.
The new funding will fuel Owlto’s continued innovation and development in bridging the disparate networks in Web3. This includes advancing their intent-centric AI product, modular interoperability protocol, omnichain liquidity solution V2, and more.
Owlto drives innovation and development of cross-chain solutions
According to the team, Web3 is seeing the emergence of diverse networks, while blockchain interoperability remains a significant challenge. The surge in cross-chain requests has led to the emergence of various cross-chain solutions, and Owlto has been at the forefront of this shift.
Owlto, launched its mainnet in June 2023, has gained nearly 2 million users in over 200 countries/regions in a year, becoming a leading Web3 bridge. It currently supports over 45 networks in BTC, ETH, and Solana ecosystems, and has collaborated with over 100 well-known projects, including industry leaders such as Arbitrum, Linea, Starknet, Base, Binance Web3 Wallet, OKX Web3 Wallet, and Kroma, etc.
In the BTC ecosystem, Owlto is in first place with over 150 million transactions. In the ETH ecosystem, it is in the top 3 by number of transactions in 24 hours, while it is the youngest project among the top 10 bridges on DefiLlama.
Additionally, Owlto stands out for its security and speed, earning an AA rating from trusted Web3 auditor CertiK. This rating places Owlto among the highest-rated projects in the cross-chain bridge category, on par with Solana and Optimism. Meanwhile, Owlto provides high-speed cross-chain bridging. Past data shows that over ninety percent of cross-chain transactions are completed within thirty seconds.
Owlto is currently developing its AI Intent interoperability protocol, which enables users to perform seamless and risk-free bridging operations without having complex cross-chain skills or engaging in potentially risky operations. Owlto’s AI agent will generate suggestions for safe and convenient bridging paths.
Owlto’s modular interoperability protocol, which will offer Owlto Bridge-as-a-Service (OBaaS), a hybrid cross-chain solution covering multiple assets, providing bridging services for Bitcoin and Ethereum L2. Additionally, Owlto will implement Omnichain Liquidity Solution V2 for DApps, which can directly use Owlto’s SDK, API or smart contract to facilitate non-custodial cross-chain transactions, without deploying their own multi-chain liquidity.
Finally, Owlto Finance will expand its marketing and operations globally, while the Tokenomics model, Airdrop plan, and listing strategies will be released in the near future.
Contact
Emily Slipper
Energetic media
emily@energentmedia.net