It comprises more than 1,000 cryptocurrencies that are currently circulating on various mainnets.
Accordingto the co-founder of the company Zhaojun, Multichain is the only cross-chain infrastructure that connects more public blockchains and crypto-assets than anybody else while also offering lower transaction costs, shorter bridging times, and higher levels of security. Zhaojun also expressed his commitment to remaining at the forefront of cross-chain research.
BSC recommends Multichain
Binance Smart Chain (BSC) also supports the protocol with its own efforts. According to the press release, the exchange giant is trying to push Multichain as a recommended bridge for developers in the long run.
BSC, through its $1 billion growth program, has unveiled a$200 million funding roundalong with Animoca Brands for gaming investments.
We will remain on the frontline of cross-chain research,” said Zhaojun, the Co-founder of Multichain.
Bill Chin, Head of Investment at Binance Labs, said: “Binance Labs invests in disruptive innovations that have incredible potential to shape the crypto landscape, which is why we are fully supporting the Multichain.”
Read this article too :
Binance Labs Participates in the $110 Million Series C Funding of Figment
Peter Huo, Investment Director at Binance Labs, added: “Multichain is a key contributor to the multi-chain future for crypto. We are excited to deepen our partnership with Multichain and work closely with the team to build out our shared vision.”
In addition to the financing support from Binance Labs, Multichain is also building a stronger partnership with BSC. BSC will promote Multichain as one of its recommended bridges.
On Monday, December 20, Multichain announced that it now officially recommended as a tool to bridge bToken across chains via Binance Smart Chain (BSC), Binance’s smart contract platform.
Accordingly, Binance Smart Chain noted that Multichain is one of the biggest routers on BSC facilitating a non-custodial plus multi-party computation model to guarantee the security of on-chain assets.
Thanks Binance Smart Chain @BinanceChain for promoting #Multichain as officially recommended bridge🔥#Multichain‘s top priority is to guarantee the security of on-chain assets🏦 https://t.co/CEocRygXzq
— Multichain (Previously Anyswap) (@AnyswapNetwork) December 20, 2021
Henceforth, as per the announcement, the total value locked (TVL) on Multichain now amounts to more than $5 billion, with the number of users exceeding 300,000.
Builders can create application layers on top of it to strengthen DeFi composability.
“Multichain now is the cross-chain infrastructure that connects more public blockchains and crypto assets than anyone else, with lower transaction fees, shorter bridging time and higher security levels.
- Binance Labs led the recent $60 million financing round for Multichain, which recently rebranded from Anyswap.
- In addition to financing support from Binance Labs, Multichain is also building a partnership with Binance Smart Chain (BSC).
- The funds will be used to support the Multichain ecosystem and its internal teams, including R&D, Audit and Service.
Binance Labs, the venture capital and incubation arm of Binance, led the recent $60M financing round for Multichain, formerly known as Anyswap, an industry-leading cross-chain protocol.
Multichain provides interconnecting infrastructure for many mainstream public blockchains, including Ethereum, Binance Smart Chain, Avalanche, Moonriver, etc.
Aligning with our plan to improve Web3, Multichain will integrate NFT Cross-Chain Bridge and our new anyCall solution for arbitrary cross-chain contract calls, supporting innovative NFT and DeFi DApps in cross-chain ecosystems. We will remain on the frontline of cross-chain research,” said Zhaojun, the Co-founder of Multichain.
Bill Chin, Head of Investment at Binance Labs, said: “Binance Labs invests in disruptive innovations that have incredible potential to shape the crypto landscape, which is why we are fully supporting Multichain.” Peter Huo, Investment Director at Binance Labs, added: “Multichain is a key contributor to the multi-chain future for crypto.
SINGAPORE, Dec. 21, 2021 /PRNewswire/ — Multichain (previously Anyswap), the world’s leading cross chain protocol, raises a $60 million financing round at $1.2 billion valuation led by Binance Labs, joined by Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures and HashKey. Besides backing Multichain financially, all the supporters will be jointly involved in the project’s development at a deep level to achieve the common vision for web3.
Multichain, rebranded from Anyswap, will continue with what it has achieved to date as a router protocol for Web3.
Binance Labs, the venture capital and incubation arm of thecrypto exchange Binance, led a $60 million funding round in Multichain, formerly known as Anyswap. The company aims to use the funds in the expansion of the Multichain team and ecosystem. This involves increasing the research and development staff, particularly the security audit team, the crypto algorithm research team, and the service team, which assists new customers and blockchain ecosystems in integrating with Multichain.
Multiple mainstream public blockchains, such as Ethereum, Binance Smart Chain, Avalanche, and Moonriver, are linked using Multichain’s interconnecting technology.
As per thedataby Defillama, the cross-chain protocol, which has more than 300,000 users, has a Total Value Locked (TVL) of more than $5 billion.
Multichain, previously known as Anyswap.
In an official announcement, Multichain confirmed the successful completion of a $60 million funding round spearheaded by Binance Labs. The funding comes a few days after Multichain rebranded from Anyswap in the past week.
The funding initiative also saw the participation of other major venture capital (VC) firms and industry investors, including Primitive Ventures, Hypersphere Ventures, HashKey, DeFiance Capital, Sequoia China, IDG Capital, Three Arrows Capital, Circle Ventures, and Magic Ventures.
Apart from the capital investments partnership, Multichain also has a stronger affiliation with Binance.
On December 20, the Binance Smart Chain (BSC) hinted at a significant affiliation with Multichain cross-chain protocol.
Reading Time:< 1minute
Binance Labs has led the Multichain’s (formerly Anyswap) cross-chain funding round, in which the company has raised $60 million.
According to the company, the fundraising has also seen the participation of Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures and HashKey.
After the funding round, the company valuation has increased to $1.2 billion.
Multichain provides infrastructure solutions for 25 popular blockchain ecosystems including Ethereum, Fantom, Binance Smart Chain, Avalanche, Moonriver, Arbitrum, Polygon and Harmony.
The total value of funds locked in the protocol (TVL) is near $5 billion.