Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Multicoin Capital invests in Wormhole to improve cryptocurrency interoperability.
ADOPTION NEWS

Multicoin Capital invests in Wormhole to improve cryptocurrency interoperability.

By Crypto FlexsApril 5, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Multicoin Capital invests in Wormhole to improve cryptocurrency interoperability.
Share
Facebook Twitter LinkedIn Pinterest Email

Multicoin Capital leads the $225 million funding round for Wormhole, a leading multichain solution with over $41 billion in assets and 30 chains, with a focus on user experience and zero-knowledge verification technology.

Multicoin Capital is a famous venture capital company. blockchain and Crypto Investments said they participated as co-investors in the $225 million funding round of Wormhole, a key player in the multichain space. The funding round was completed late last year, but was officially announced coinciding with the launch of Wormhole’s native token, W token.

Wormhole is widely known as a full-stack interoperability platform that goes beyond simple bridges. It serves as a development platform that allows a variety of applications across a variety of categories to leverage its capabilities. This includes multichain decentralized finance (DeFi) protocols and applications such as Aave, Circle USDC, Hashflow, Pike, and Magpie, as well as multichain governance solutions such as Uniswap. Wormhole also supports token bridges, multichain oracle feeds, in-wallet bridging, multichain non-fungible tokens (NFTs), and more.

The variety of applications built on top of Wormhole is a major factor that excites Multicoin Capital. Despite its early stages, Wormhole has already facilitated the connection of over $41 billion in assets. This achievement, combined with support for nearly 30 different chains, positions Wormhole as a very powerful and versatile bridging solution. The platform is compatible with the major Ethereum Virtual Machine (EVM) chains as well as Near, Move-based chains, and Solana.

Wormhole’s commitment to providing a great user experience (UX) is evident in its products. One important use case is asset pinning facilitated through a frontend like Portal. Additionally, Wormhole Connect, a front-end widget developed by Wormhole, simplifies deposit and withdrawal authorizations for any asset on any chain. This feature allows derivatives decentralized exchanges (DEXs) like Drift to offer a UX comparable to centralized exchanges (CEXs) like Binance, OKX, Bybit, and Coinbase International. Users can easily collateralize any asset to Drift, regardless of the chain on which the asset originates. This frictionless, cross-chain UX sets Wormhole apart in the industry.

Recently, Wormhole introduced Native Token Transfer (NTT), a framework that allows tokens to move seamlessly between chains using a burn and mint mechanism instead of a traditional locking mechanism. This innovation reduces gas costs, reduces latency, and increases security for end users. In particular, NTT-backed tokens integrate seamlessly with Wormhole Connect so users and application developers don’t have to worry about the underlying mechanisms.

Another notable feature of Wormhole is its support for Circle’s Cross-Chain Transfer Protocol (CCTP), allowing you to move USDC between chains. By supporting asset pegging, native token transfer, and CCTP, Wormhole covers all three configurations for cross-chain asset movement. A single software development kit (SDK) allows developers to easily integrate and support all asset configurations.

Going forward, Wormhole is committed to improving the verification process for bridging systems. Historically, bridging systems have relied on varying levels of trust to facilitate multichain verification. But wormholes take a different approach. The platform recently announced that it is focusing on zero-knowledge (ZK) verification technology, with the goal of removing the need for trust in the verification process. This move will bring numerous benefits, including improved UX, developer experience (DevEx), and overall security.

Multicoin Capital expressed its respect for the Wormhole team and praised their meticulous approach in building what they believe is a leading asset bridge and multichain development platform. The company is confident in Wormhole’s potential and is grateful for the opportunity to support the team’s vision.

In conclusion, Multicoin Capital’s investment in Wormhole signals the growing importance of secure, flexible interoperability platforms in the cryptocurrency industry. Wormhole’s diverse applications, broad chain support, commitment to UX, and adoption of ZK verification technology make the platform well-positioned to drive the multichain revolution.

Image source: Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Data Center security improvement: Role and risk of base board management controller

June 7, 2025

Gala Games unveils a new byte pack in VEXI village.

June 7, 2025

Eigenlayer starts the redistribution function in testnets

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

Binance Alpha Listing Drive Skating Token Price 33%

June 7, 2025

Data Center security improvement: Role and risk of base board management controller

June 7, 2025

Is the Solana -SOL route that is involved in whale movements still alive for $ 160?

June 7, 2025

Gala Games unveils a new byte pack in VEXI village.

June 7, 2025

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

ARCA is disappointed with the IPO allocation and dumps the circle sharing.

June 7, 2025

Eigenlayer starts the redistribution function in testnets

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Binance Alpha Listing Drive Skating Token Price 33%

June 7, 2025

Data Center security improvement: Role and risk of base board management controller

June 7, 2025

Is the Solana -SOL route that is involved in whale movements still alive for $ 160?

June 7, 2025
Most Popular

There’s a lot of money on Dogecoin and SHIBA INU RCO finance.

February 11, 2025

What is Tether’s gold-backed stablecoin ‘alloy’ (aUSD₮)?

June 22, 2024

Bitcoin Gives Up Late June Rise Amid Warning That Holding $60K Is ‘Lucky’

July 3, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.