Paradigm, Coinbase back Across Protocol’s $41m raise for cross-chain interop
In a significant development for the crypto industry, cross-chain bridge platform Across has successfully raised $41 million in a strategic token sale. The funding round attracted the participation of top venture capital firms, including Paradigm, Coinbase Ventures, Bain Capital Crypto, and Multicoin Capital, signaling a strong vote of confidence in Across Protocol’s vision for cross-chain interoperability.
The funding will play a crucial role in Across Protocol’s efforts to unify Ethereum (ETH) through cross-chain interoperability powered by intents. Intents is a new infrastructural push aimed at providing users with a seamless and unified chain experience, addressing the challenges of fragmented liquidity and disconnected chains in the web3 ecosystem.
The team at Across Protocol expressed their commitment to accelerating the transition to seamless cross-chain experiences for users, with a focus on achieving two-second bridging regardless of the number of chains involved. The latest funding round will further empower Across Protocol to realize this vision and enhance the overall web3 adoption.
Leading the funding round, venture capital firm Paradigm highlighted the importance of interoperability breakthroughs in enabling users to access a wide range of decentralized applications and services across different chains. Coinbase Ventures, Bain Capital Crypto, and angel investor Sina Habinian also provided investment support to help Across accelerate the development of its core bridging infrastructure and drive technical advancements in cross-chain intent execution.
The integration of Across Protocol with prominent platforms such as Hyperliquid, Kraken’s Ink, and Sony’s Soneium, as well as more than 40 decentralized applications, demonstrates the growing importance of interoperability in the crypto space. The protocol’s recent launch on Unichain, a decentralized L2 powered by Uniswap, further expands its reach and accessibility to users seeking a unified chain experience.
Overall, the $41 million raise for Across Protocol represents a significant milestone in the advancement of cross-chain interoperability and the broader web3 ecosystem. With the support of industry heavyweights like Paradigm and Coinbase Ventures, Across is well-positioned to drive innovation and adoption in the evolving landscape of decentralized finance and blockchain technology.