Owlto Finance, the Premier Blockchain Interoperability Protocol, Raises Funds at $150M Valuation
Hong Kong, Hong Kong, July 17th, 2024, Chainwire
Owlto Finance, the interoperability protocol with nearly 2M users in 200+ countries/regions, has raised funds at a $150M valuation in its new round backed by Matrixport.
Owlto Finance previously raised $8M in its May strategic funding round led by Bixin Ventures and CE Innovation Capital (CEiC), followed by along with prominent VCs including Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma, SNZ Capital.
The new funds will fuel Owlto’s ongoing innovation and development in connecting the diverse networks in Web3. This includes advancing their intent-centric AI product, modular interoperability protocol, omnichain liquidity solution V2, and more.
Owlto leads cross-chain solution innovation and development
According to the team, diversified networks are emerging in Web3, while blockchain interoperability remains a significant challenge. The surge in cross-chain demands has led to the emergence of various cross-chain solutions and Owlto has been at the forefront of this change.
Owlto, launched its mainnet in June 2023, has gained nearly 2 million users in 200+ countries/regions within a year, becoming a leading Web3 bridge. It currently supports 45+ networks within the BTC, ETH, and Solana ecosystems and has partnered with 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 ranks No.1 with 150+ million transactions. In the ETH ecosystem, it ranks amongst the top 3 on 24h number of transactions, while it’s the youngest project among the top 10 bridges on DefiLlama.
Moreover, Owlto stands out on safety and speed, who has achieved an AA rating from the reputable 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 bridging speed cross chains. 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 execute seamless and risk free bridging operations without possessing complex cross-chain expertise or taking on potentially risky operations. Owlto’s AI agent will generate suggestions for secure and cost-effective bridging paths.
Owlto’s modular interoperability protocol, which will offer Owlto Bridge-as-a-Service (OBaaS), a hybrid cross-chain solution that covers various assets, providing bridging services for Bitcoin and Ethereum L2s. Additionally, Owlto will implement Omnichain Liquidity Solution V2 for DApps, who can directly utilize Owlto’s SDK, API, or smart contracts to facilitate non-custodial cross-chain transactions, without deploying their own multi-chain liquidity.
Lastly, Owlto Finance will expand its global marketing and operations, while the Tokenomics Model, Airdrop plan, and listing strategies will be released in the near future.