zkLink Closes $10M in Funding
July 13, 2024

zkLink Closes $10M in Funding for its Multi-chain Trading Infrastructure

Dubai, May 15,2023 – zkLink, a pioneering multi-chain ZK-Rollup trading infrastructure, has announced the successful completion of its strategic funding round, raising  an additional $10 million from a group of high-profile investors, including Coinbase Ventures, Cypher Capital, Ascensive Assets, SIG DTI, BigBrain Holdings, Efficient Frontier, Csquared Ventures, and others. This latest round brings the total funding to $18.5 million.

The funds raised will be used to further the zkLink mission of providing crypto traders with a seamless multi-chain experience through our cutting-edge decentralized trading layer. This innovative technology is based on a multi-chain ZK-Rollup, a cryptographic technique that enables scalable, cost-effective, and secure transactions across multiple blockchains. This technology has the potential to revolutionize the way traders execute transactions.

As the race to capitalize on ZK technology intensifies, zkLink’s funding round comes at a critical moment. The team are currently undergoing a major security test called the ‘Dunkirk’ asset recovery test, followed by their mainnet launch in Q3 2023.

Co-founder, Vince YANG, expressed his gratitude for the support from the investors: “The new capital will enable us to expedite the development of our protocol and introduce it to the market more rapidly. We believe that ZK-Rollup-based trading infrastructure will usher in a seamless, unified, and secure multi-chain DeFi landscape.”

Investors also shared their enthusiasm for the potential of zkLink’s technology to transform the blockchain industry. Cypher Capital Chairman Bill Qian said “This funding round allows zkLink to further develop and test their transformative technology. This round brings them yet closer to their vision of a future with unified liquidity and seamless multi-chain user experience while remaining fully trustless and self-custodial. We are incredibly excited to be a part of this and to see what the future holds for zkLink.”

Vir Anand, at SIG DTI, said, “zkLink’s recent funding round underscores the growing recognition and potential of ZK-Rollups. As the technology matures, zkLink is uniquely positioned to address critical challenges in security, scalability, and liquidity by leveraging its innovative multi-chain trading infrastructure. With their dedicated team and cutting-edge solutions, zkLink is poised to empower users and developers, while hopefully driving the industry towards a more robust, decentralized future.”

By connecting and unifying various L1 chains and L2 protocols, zkLink can offer an array of API-driven use cases atop its multi-chain ZK-Rollup infrastructure, including Order Book DEX, NFT marketplace, and more. We are proud to be at the forefront of this exciting journey and look forward to sharing more updates as we progress.

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    Middle East News 247

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