Introduction
Formerly known as Anyswap, Multichain—a leading cross-chain bridge protocol—has successfully raised $60 million in a seed funding round led by Binance Labs. The investment will accelerate research in cryptographic algorithms, security enhancements, and ecosystem expansion.
Key Highlights of the Funding Round
- Lead Investor: Binance Labs spearheaded the round, reinforcing Multichain’s role in decentralized cross-chain infrastructure.
- Ecosystem Growth: Funds will expand Multichain’s team and advance R&D in blockchain interoperability.
- Strategic Backing: Binance Smart Chain (BSC) will endorse Multichain as its recommended cross-chain bridge for developers long-term.
Additional Investors:
Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, and others participated.
Multichain’s Market Position
- User Base: 300,000+ active users.
- Total Value Locked (TVL): $4.8 billion (per DeFiLlama).
- Historical Support: Received a $350,000 grant from BSC’s accelerator program in 2020.
Future Roadmap
- Algorithm Research: Focus on secure, efficient crypto transfers.
- Security Upgrades: Mitigate risks in cross-chain transactions.
- User Services: Enhance interface and support for DeFi projects.
👉 Explore how Multichain is revolutionizing cross-chain interoperability
FAQ Section
Why did Anyswap rebrand to Multichain?
The rebrand reflects its evolution from a single-chain DEX to a multi-network bridge solution, aligning with broader interoperability goals.
How does Binance Labs’ involvement benefit Multichain?
Binance’s endorsement provides credibility, technical resources, and long-term developer adoption incentives via BSC.
What makes Multichain stand out among cross-chain bridges?
Its high TVL, robust security audits, and partnerships with major chains position it as a top choice for asset transfers.
👉 Discover the latest in cross-chain technology
Conclusion
Multichain’s $60M raise marks a pivotal step in advancing secure, scalable cross-chain infrastructure. With Binance Labs’ support, it aims to redefine blockchain interoperability.
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