Tim Draper-backed Ark Labs secures $5.2 million from Tether and investors to scale Bitcoin infrastructure
Ark Labs raised $5.2 million in seed funding, including investment from Tether, to scale its programmable Bitcoin infrastructure platform, Arkade.Summary
Ark Labs, a Bitcoin infrastructure startup supported by Tim Draper, has secured $5.2 million in a seed funding round, bringing its total institutional funding to $7.7 million. The round included participation from Tether, Ego Death Capital, Epoch VC, and others. Ark Labs plans to use the capital to expand its team and scale its Arkade platform, a programmable execution layer designed to transform Bitcoin into a platform for financial applications, enabling instant transactions and self-custodial settlement.
Tether's investment highlights its strategic focus on Bitcoin-native infrastructure, aiming to enhance the issuance, movement, and settlement of stablecoins directly on the Bitcoin network. Alongside the funding, Ark Labs introduced stablecoin and digital asset support on Arkade, utilizing virtualized transaction outputs (VTXOs) to enable programmable functionality off-chain.
(Source：Crypto Briefing)