Flash News: OKX Ventures Invests in Pre-seed Round for First Bitcoin-native Data Availability Layer Nubit

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Mar 25, 2024, 21:00 ET

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

OKX Ventures Invests in Pre-seed Round for First Bitcoin-native Data Availability Layer Nubit

OKX Ventures today announced its participation in the pre-seed round investment for Nubit, the first scalable data availability layer for the Bitcoin ecosystem.

Nubit is a scalable and the first Bitcoin-native data availability layer, secured by Bitcoin, for the Bitcoin community. Nubit enables the scaling of Bitcoin's data capacities without compromises, empowering applications like Ordinals, Layer 2s, price oracles, and indexers, thereby broadening the scope and efficiency of the Bitcoin ecosystem. It leverages the innovative consensus algorithm and lightning network to inherit the full censorship-resistant nature of Bitcoin.

OKX Ventures Founder Dora Yue said: "We are delighted to invest in Nubit, the first scalable data availability layer for the bitcoin ecosystem. Nubit solves Bitcoin's biggest pain points such as high transaction costs, while also meeting the Bitcoin ecosystem's needs in terms of minimizing trust, increasing data throughput, and improving data accessibility, paving the way for mass adoption of the Bitcoin ecosystem. In addition, Nubit's test network will be launched soon, which will accelerate its ability to empower more Bitcoin ecosystem projects."

For further information, please contact:
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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