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Cross blockchain hub Allbridge raises $2M led by Race Capital


Allbridge, a cross-chain bridge that lets customers switch belongings between totally different blockchain networks, immediately introduced $2 million in funding led by Race Capital. Allbridge affords a easy strategy to bridge tokenized belongings between Ethereum Virtual Machine (EVM) and non-EVM suitable blockchains.

In the seven months since launch, Allbridge has bridged over $4.8B in belongings, making it the biggest cross-chain asset bridge supporting Solana, Fantom, Avalanche, Celo, Polygon, Ethereum, BSC, Terra, and extra.

Founded by Andriy Velykyy and Yuriy Savchenko, who’ve labored collectively since 2016 on many alternative crypto funds integrations and non-custodial multi-chain crypto wallets, Allbridge goals to attach every kind of layer-1 and layer-2 networks to convey extra interoperability to DeFi.

Not solely does Allbridge allow customers to work together with and switch belongings between EVM-based blockchains like Ethereum, Polygon, and BSC, it additionally bridges non-EVM suitable blockchains like Solana and Terra.

“We want to be the go-to platform that bridges every popular blockchain and digital asset on the market, enabling billions of token transfers on a daily basis. We’re also working on APIs that will enable developers to build dApps on top of Allbridge. Cross-chain swaps built on Allbridge are the easiest way to exchange any asset between any networks, enabling new functionality like cross-chain lending where users can leverage collateral on one chain in order to receive an asset on another chain.”
– Andriy Velykyy, Co-Founder of Allbridge

Allbridge permits customers to pick out the community they need to present the liquidity to with simply a few clicks–every time and wherever they need.

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