The intention-centered cross-chain interoperability protocol Owlto Finance has completed a $8 million strategic round of financing, led jointly by Bixin Ventures and CE Innovation Capital

2024-05-08 20:08:00

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ChainCatcher news, intent-centered cross-chain interoperability protocol Owlto Finance announced the completion of a $8 million strategic round of financing. This round was co-led by Bixin Ventures and CE Innovation Capital, with follow-on investments from Presto, Hailstone Labs, Skyland Ventures, Blocore, SNZ Capital, BESTO, Kroma, Coinseeker.co, Stratified Capital, X21 Digital, Maxx Capital, Incubate Fund, GSR, and CatcherVC.

It is reported that Owlto is a cross-chain bridge that started on ETH Layer2, which has grown to become one of the top three cross-chain bridges in the Ethereum ecosystem within about six months of its launch, occupying over 75% of the third-party cross-chain volume in some ETH Layer2s, and recently becoming the number one cross-chain bridge in the Bitcoin ecosystem. Owlto already has over 1.6 million unique addresses from more than 206 countries and regions. This round of financing is mainly used to accelerate the upgrade of AI intent cross-chain products, develop modular cross-chain interoperability protocols, global operations and marketing, full-chain liquidity solutions V2, and capital market operations.

The co-leading institution in this round, Bixin Ventures, stated: "Owlto is a highly innovative team that was the first to propose an intent-centered AI cross-chain product. In the past, we have witnessed Owlto's rapid growth and thriving community. We believe that in the near future, Owlto will unleash its tremendous potential to become a leading infrastructure project and revolutionize the Web3 technology field. We are excited to include Owlto in our portfolio and look forward to its success."

According to the Web3 asset data platform RootData, [Owlto Finance](https://www.rootdata.com/zh/Projects/detail/Owlto Finance?k=Nzg1NA== "decentralized cross-rollup bridge") is a decentralized cross-rollup bridge focused on Layer2, providing low-cost, secure, and fast asset transfer solutions.

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