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Arch Labs Secures $7 Million Investment
Arch Labs has secured a significant $7 million investment to develop a Bitcoin-native application platform. The seed funding round was led by Multicoin Capital with participation from other notable contributors such as Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings, Tangent, Cypher, and Newman Capital.
Building in the Bitcoin Ecosystem
Arch Labs is proud to be at the forefront of innovation in the Bitcoin ecosystem, collaborating with industry-leading funds and strategic partners to drive development forward.
Announcing the successful closing of the seed round, Arch Network shared on Twitter:
“Arch Network’s emergence is a direct reflection of our commitment to revolutionize the Bitcoin application landscape,” – @ArchNtwrk
Bridgeless Bitcoin-Native Network
Arch Labs intends to utilize the newly acquired funds to further develop decentralized finance (DeFi) applications directly on the Bitcoin blockchain, eliminating the need for secondary layers or bridges. By operating directly on the Bitcoin network, Arch aims to enhance user experience and maintain the security advantages inherent to the blockchain.
Arch co-founder and CEO Matt Mudano emphasized the significance of this development, stating:
“Ordinals marked a foundational shift in Bitcoin’s evolution. It signaled the beginning of a new era where Bitcoin could serve as more than just a payment ledger.”
With a focus on leveraging Bitcoin’s security and liquidity, Arch Labs aims to unlock a new application ecosystem on the world’s most secure and liquid blockchain.
Platform Expansion and Development
The raised funds will primarily support the expansion of Arch Labs’ development team. By onboarding skilled developers, the company aims to accelerate the creation and enhancement of decentralized applications.
Arch’s Innovative Features
Arch features a parallelized, proof-of-stake system with a Rust-based zkVM, known as the ArchVM, and a decentralized verifier network, establishing a trustless execution environment within the blockchain.
Multicoin Capital Investment Principal Vishal Kankani highlighted the unique approach of Arch, stating:
“Arch is explicitly not a Layer 2 in the sense that users do not have to bridge assets to an untrusted chain to utilize it.”
Future Plans and Rollout
Alongside team expansion, Arch Labs plans to launch a public development network (devnet) followed by a mainnet release scheduled for the latter half of the year. This phased approach will allow early testers and future users to explore the platform’s capabilities, enhancing stability and functionality before a full-scale public launch.