4 years ago

Interlay Secures $3.04 Million Seed Funding to Expand Bitcoin Interoperability

  • Interlay, a UK-based blockchain interoperability startup, has raised $3.04 million in seed funding led by IOSG Ventures

  • The funding will be used to accelerate the company's growth to other blockchains beyond Polkadot, expand its team, and develop v2 of its bridge technology powering interBTC

  • Interlay's flagship product, interBTC, allows users to invest, earn, and pay with Bitcoin on any blockchain in a truly trustless and decentralized way

  • The company's technology is based on XCLAIM, a trustless protocol for cross-chain 'wrapped' assets, which was developed by Interlay's co-founders, Alexei Zamyatin and Dominik Harz, the first two PhDs of Imperial College's cryptocurrency lab.

      • ProblemTechnology

      "Moving Bitcoin between different blockchains is complex and often requires trusting a centralized service."

      Solution

      "Interlay enables trustless and decentralized interoperability between Bitcoin and other blockchains like Polkadot, Ethereum, and Cosmos, allowing users to invest, earn, and pay with Bitcoin on any blockchain."

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