Across Protocol Raises $41 Million in Token Sale Round Led by Paradigm

Across Protocol (ACX), an intent-based interoperability protocol, has raised $41 million in funding.

According to The Block on the 5th (local time), Across Protocol announced that it raised $41 million through a token sale round led by Paradigm. Bain Capital Crypto, Coinbase Ventures, Multicoin Capital, and others participated in this investment round. Specific details such as token sale prices remain undisclosed.

Across Protocol stated, "With this investment, our total capital raised has reached $51 million," adding, "Through this funding, we will promote global adoption of cross-chain standards (ERC-7683) and accelerate our Ethereum (ETH) rollup-centric development strategy."

Hart Lambur, co-founder of Risk Labs, the developer of Across, said, "Currently, users are facing fragmentation issues with Ethereum," and, "Our goal is to provide an experience like a unified network even when multiple chains are intertwined." He added, "In the future, when one billion Ethereum users onboard to new platforms, there will be no waiting."

Dan Robinson, General Partner at Paradigm, said, "Across has pioneered intent-based interoperability and built the industry's best bridge," adding, "We are pleased to collaborate in technology and research for Across's vision."

Meanwhile, Across Protocol processed $1 billion in transactions in January alone, bringing its total transaction volume to $19 billion.