VICTORIA, Seychelles, April 06, 2023 (GLOBE NEWSWIRE) — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced a strategic investment in leading blockchain messaging protocol LayerZero.
LayerZero enables interoperability and facilitates seamless cross-chain messaging across countless blockchains. It provides the underlying infrastructure needed for decentralized applications (dApps) to live across multiple blockchains. By leveraging LayerZero, developers can create projects that exist across multiple blockchains without the need for an intermediary to facilitate cross-chain interactions.
Ryan Zarick, co-founder and CTO of LayerZero Labs, said: “Imagine a future where a single user-facing application can leverage the speed of Solana, the security of Ethereum, and the cheap file storage of Arweave, while being completely abstracted to the user. This is our vision, enabled by the LayerZero protocol that seamlessly connects bringing together all blockchains and enabling chain-agnostic applications to be built across different blockchains to create a best-in-class user experience. The days of choosing one chain to build on are over; the future is omnichain applications.”
Dora Yue, founder of OKX Ventures, said: “As messaging applications and blockchain technology become present in daily life, we are proud to partner with LayerZero, an innovator in both areas. Through our investment, we are firmly committed to supporting the LayerZero team to expand its presence globally, and particularly in the APAC region.”
About OKX Ventures
OKX Ventures is the investment arm of the leading crypto exchange 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 breakthrough 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.
About OKX
OKX is a world-leading technology company that is building the future of Web3. Known as one of the fastest and most reliable crypto trading platforms for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume and is trusted by more than 50 million users.
OKX’s leading self-custodial solutions include the Web3-compatible OKX Wallet, which gives users greater control over their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.
OKX works with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City FC, McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James and F1 driver Daniel Ricciardo.
OKX is committed to transparency and security and publishes its reserve certificates on a monthly basis.
To learn more about OKX visit: okx.com
Disclaimer
THIS NOTICE IS FOR INFORMATION PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX OR LEGAL ADVICE AND SHOULD NOT BE CONSIDERED AN OFFER TO BUY, SELL OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE A LOT, AND MAY EVEN FALL IN VALUE. OKX IS NOT REGULATED BY THE FCA, THERE IS NO PROTECTION AVAILABLE AS A FINANCIAL INTERMEDIARY SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL SITUATION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, MAY INCREASE OR DECREASE, AND PROFITS MAY BE SUBJECT TO CAPITAL GAIN TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL WITH QUESTIONS REGARDING YOUR SPECIFIC CIRCUMSTANCES.
