Flash News: OKX Ventures Announces Series A Round Investment for Movement, the First Ethereum MoveVM Layer 2 Network

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Apr 25, 2024, 08:00 ET

SINGAPORE, April 25, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of OKX, a leading cryptocurrency exchange and Web3 technology company, has issued updates for April 25, 2024.

OKX Ventures Announces Series A Round Investment for Movement, the First Ethereum MoveVM Layer 2 Network

OKX Ventures today announced its Series A round investment in Movement Labs, a pioneering blockchain development company. Movement Labs is creating a secure, scalable, and developer-friendly blockchain infrastructure that combines the best aspects of modular and monolithic architectures.

By building the first MoveVM Layer 2 (L2) on Ethereum through their innovative MEVM (Move + EVM) Zero-Knowledge L2 solution. This enables developers to build high-performance, secure applications while leveraging the liquidity and network effects of the Ethereum ecosystem. The integrated execution environment provided by Movement Labs empowers developers with increased agency and the ability to build without barriers.

OKX Ventures Founder Dora Yue said: "We are delighted to participate in the investment for Movement, Movement is a Move language-based EVM modular network that optimizes the security and performance bottlenecks of Solidity. It combines the security and parallelism of smart contracts with the liquidity and user base of EVMs to create a faster, cost-effective, more flexible, and compatible Layer 2 network. Its M1 and M2 products are designed to enable developers to build and deploy move language infrastructure, applications, and modular frameworks for blockchain in any environment, empowering the mass adoption and growth of Move language in the future."

Learn more about Movement Labs by visiting movementlabs.xyz, or following them on X @movementlabsxyz and on Discord: discord.gg/movementlabsxyz.

For further information, please contact:
[email protected]

About OKX Ventures

OKX Ventures is the investment arm of the second-largest crypto exchange by trading volume and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

Disclaimer

SOURCE OKX Ventures