Flash News: OKX Ventures Backs AltLayer in a US$14.4 Million Round to Champion Innovation in Blockchain Technology

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Feb 20, 2024, 22:00 ET

SINGAPORE, Feb. 20, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading Web3 technology company OKX, has issued updates for February 21, 2024.

OKX Ventures Backs AltLayer in a US$ 14.4 Million Round to Champion Innovation in Blockchain Technology

OKX Ventures is proud to announce its participation in a funding round for AltLayer, a leading platform for rollups. The funding round, which raised $14.4 million, was co-led by Polychain Capital and Hack VC. This investment underscores OKX Ventures' continued commitment to supporting innovative projects in the blockchain space.

AltLayer is a decentralized protocol that empowers developers to create rollups from various software stacks, offering a rollup-as-a-service model. This round of capital will be utilized to expand AltLayer's team and further enhance its rollup infrastructure.

OKX Ventures Founder Dora Yue said: "We're excited to support AltLayer in their quest for scalability and innovation in the blockchain technology sector. AltLayer's dedication to developing rollup infrastructure signifies a considerable advancement for the industry. This aligns perfectly with OKX Ventures' mission to support projects that drive innovation and push the boundaries of the blockchain space."

OKX Ventures looks forward to seeing the growth and development of AltLayer, as well as supporting their vision to revolutionize the blockchain industry.

For further information, please contact:
[email protected]

About OKX Ventures

OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 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