The company will use the funds to bring Facebook’s Move Virtual Machine to Ethereum.
The monthly stablecoin trading volume on Ethereum alone is likely to hit the $1 trillion mark this April.
Tribe Capital and IOSG Ventures led the round with participation from Arweave, Consensys, Draper Dragon, Fenbushi Capital, LiquidX, MARBLEX, No Limit Holdings, and OKX Ventures.
Hack VC led the round with participation from DAO5, L2 Iterative, Nomad Capital, Finality, Symbolic VC, Theta Capital, J17, EVG Ventures, Decima Fund and Protagonist.