{"id":301640,"date":"2021-07-17T17:45:16","date_gmt":"2021-07-17T14:45:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-interoperability-platform-interlay-raises-3m-in-seed-funding\/"},"modified":"2021-07-17T17:45:16","modified_gmt":"2021-07-17T14:45:16","slug":"bitcoin-interoperability-platform-interlay-raises-3m-in-seed-funding","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-interoperability-platform-interlay-raises-3m-in-seed-funding\/","title":{"rendered":"# Bitcoin interoperability platform Interlay raises $3M in seed funding"},"content":{"rendered":"<p>&#8220;<strong># Bitcoin interoperability platform Interlay raises $3M in seed funding  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvYTQ3ZWE3MjgtZDhhYi00NWVmLWE3OGYtZjMzMDRhYTdhMWJhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Interlay, a Bitcoin (BTC) interoperability project that first launched on Polkadot, has concluded a $3 million seed round to further develop its flagship decentralized finance product, marking another important capital raise in the blockchain industry.\u00a0<\/p>\n<p>The funding will go towards supporting Interlay\u2019s interBTC platform, which allows users to invest, earn and pay with Bitcoin on any blockchain. Originally commissioned for Polkadot, interBTC will expand to other blockchains including Ethereum (ETH) and Cosmos.<\/p>\n<p>As Cointelegraph reported, Interlay began building its Bitcoin bridge in early 2020 after receiving a grant from Web3 Foundation, a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> steward for the decentralized web. <\/p>\n<p>Interlay claims that its interBTC product is fully backed by Bitcoin at a ratio of one-to-one. The Bitcoin reserves are locked in collateralized vaults, which means anyone can mint interBTC by locking their Bitcoin or run their own vault. The product is said to be \u201csecured by insurance,\u201d which means users can exit back to Bitcoin any time they want. <\/p>\n<p>The seed round was led by IOSG Ventures, with participation from Blockchain.com, Launchub Ventures, CMS Holdings, KR1, Hypersphere and Zeeprime. Angel investors include Bitmain co-founder Jihan Wu and Blockchain.com CEO Peter Smith.<\/p>\n<p>\u201cConnecting Polkadot and Bitcoin securely and efficiently is the first strategic move for Interlay,\u201d said Xinshu Dong, a partner at IOSG Ventures, who recognized \u201crobust and decentralized infrastructure\u201d as an important enabler for multi-chain ecosystems. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>1% of Bitcoin\u2019s supply has been locked in the WBTC protocol<\/em><\/strong><\/p>\n<p>The growth of multi-chain networks represents an important evolution for the blockchain industry. Polkadot has placed itself at the center of multi-chain development, thanks in large part to parachain and parathread technologies, which are designed to unite heterogeneous networks. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-interoperability-platform-interlay-raises-3m-in-seed-funding\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin interoperability platform Interlay raises $3M in seed funding &#8221; Interlay, a Bitcoin (BTC) interoperability project that first launched on Polkadot, has concluded a $3 million seed round to further develop its flagship decentralized finance product, marking another important capital raise in the blockchain industry.\u00a0 The funding will go towards supporting Interlay\u2019s interBTC platform,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":301641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvYTQ3ZWE3MjgtZDhhYi00NWVmLWE3OGYtZjMzMDRhYTdhMWJhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75719,75168,117,20093,71745],"class_list":["post-301640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-funding","tag-polkadot","tag-business","tag-cosmos","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/301640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=301640"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/301640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/301641"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=301640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=301640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=301640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}