- A cross-chain protocol, Wormhole, raised $225 million, valued at $2.5 billion.
- New Wormhole Labs is emerging to advance cross-chain development.
Wormhole, the pioneering cross-chain protocol, has secured a substantial $225 million investment, catapulting its valuation to an impressive $2.5 billion. This significant funding round was spearheaded by prominent entities including Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital, and Arrington Capital.
Wormhole has secured $225 million in funding. Read more here:https://t.co/qRL109mNVg pic.twitter.com/JCnQAK8xSv
— Wormhole🌪 (@wormholecrypto) November 29, 2023
Wormhole was established in 2021 and emerged as a leading developer platform, facilitating seamless communication between diverse blockchain networks. Further, the protocol has played a pivotal role in enabling over $35 billion in transactions, showcasing its strong infrastructure and growing influence in blockchain.
Wormhole’s developers assert that the protocol stands at the forefront of cross-chain interoperability. That processing a volume of over 2 million messages daily and spanning over 30 blockchain networks.Â
In addition to securing a $225 million investment, cross-chain protocol has introduced Wormhole Labs. This newly revealed entity, emerging from stealth mode. That set to advance the products and tools that support cross-chain development and ongoing projects, shaping the protocol’s innovative future.
Wormhole continues to solidify its position as a key player in the cross-chain protocol space. Further, the latest injection of funds and the establishment of Wormhole Labs signal a new phase of growth and development for the protocol.
