Blockchain interoperability layer Axelar raises $3.75 million
Axelar, a decentralized interoperability fabric that connects blockchain ecosystems, applications and users, has announced seed funding of $3.75 million with investments secured from, Binance X, the Binance Smart Chain Accelerator Fund, an arm of Binance – the popular cryptocurrency exchange company; and DCVC (Data Collective), the San Francisco-based venture capital firm, which last year set up a $725m deep tech fund. By launching Axelar, we’re allowing developers to build on the best platforms for their needs and leverage a simple protocol suite and API to access global cross-chain liquidity, users, and communication.”.
Axelar protocol, developed by the founding team members of Algorand, and their team, is powered by a decentralized network and designed explicitly to frictionlessly connect all blockchain ecosystems that speak different languages. Axelar fabric connects stand alone blockchains, such as the Bitcoin Network and Ethereum, and cross-chain hubs, such as Cosmos or Polkadot, to enable developers to operate using a universal protocol and API.
