ZetaChain Raises $27M To Forge The Future Of Interoperable Blockchain Innovation

Key Points:

• Layer 1 blockchain ZetaChain secures $27 million in funding, with backers including Blockchain.com and VY Capital.
• ZetaChain pioneers an EVM-compatible blockchain to link Bitcoin, Cosmos, and Ethereum, simplifying cross-chain operations.
• With 27,000 dApp contracts deployed, its Ethereum Virtual Machine-compatible layer brings Bitcoin into the DeFi spotlight.

ZetaChain, a pioneering Layer 1 blockchain operator focused on bolstering interoperability, has concluded an impressive equity financing round, amassing $27 million.

The funding round attracted notable investors from the crypto and trading realms, including Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, and Krust. However, the company’s precise valuation has not been officially disclosed.

At the heart of ZetaChain’s mission lies the ambition to introduce the world’s first public EVM-compatible Layer 1 blockchain. This blockchain is envisioned to establish seamless connections across various chains, including prominent names like Bitcoin, Cosmos, and Ethereum.

Founded in 2021, ZetaChain aspires to set a novel standard for blockchain interoperability. Their innovative approach enables users to manage their assets and data from a unified platform, regardless of the blockchain’s origin, without the need for bridges or wrapped tokens.

The innovative capabilities of ZetaChain extend to its omnichain smart contract layer, designed to be Ethereum Virtual Machine (EVM) compatible. This breakthrough empowers developers to create Bitcoin smart contracts, which could potentially expand the decentralized finance (DeFi) ecosystem to encompass Bitcoin users.

ZetaChain’s ecosystem is already bustling, hosting a diverse range of more than 27,000 decentralized application contracts spanning sectors such as DeFi, NFTs, social networking, identity protocols, and gaming.

The imminent launch of ZetaChain’s mainnet signifies a crucial step towards realizing its vision of a unified blockchain platform. In preparation for this launch, the project has conducted extensive testing, with over 1.7 million users participating in their testnet and executing over 13 million transactions.

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