Multichain cross-chain protocol raises $60 million from Binance Labs, Circle Ventures and Tron Foundation

Binance Labs led the funding round for the cross-chain protocol Multichain (formerly Anyswap), which raised $60 million.

📢 Major Announcement
#Multichain (previously Anyswap) raises a $60M financing round led by Binance Labs @BinanceLabs @BinanceChain

We look forward to having long-standing and deep cooperation with all supporters to achieve the common vision for #web3https://t.co/J1ParrDrsc

— Multichain (Previously Anyswap) (@AnyswapNetwork) December 21, 2021

The round also included participation from Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures and HashKey. Investors valued the project at $1.2 billion.

Multichain provides infrastructure solutions for 25 popular blockchain ecosystems, including Ethereum, Fantom, Binance Smart Chain, Avalanche, Moonriver, Arbitrum, Polygon and Harmony.

The total value locked (TVL) in the protocol is approaching $5 billion. The number of Multichain users has reached 300,000.

«In line with our plan to enhance Web3, Multichain will integrate a cross-chain bridge for NFTs and our new anyCall solution for arbitrary cross-chain contracts,» the project said in a blog post.

Multichain will also intensify integration with the Binance Smart Chain (BSC) ecosystem, where it will be positioned as one of the recommended cross-chain bridges.

Also, Binance Labs invested in the BinaryX project. It is developing a GameFi product, CyberDragon, for the BSC ecosystem, incorporating elements of metaverses, DeFi and NFTs.

CyberDragon features a two-asset system: governance token BNX, and in-game currency GOLD.

In November Binance Labs invested in the Star Sharks project as part of the development of the gaming sector within the Binance Smart Chain ecosystem.

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