Allbridge, a cross-chain bridge that allows users to transfer assets between different blockchain networks, today announced a $2 million funding led by Race Capital. Allbridge provides a simple way to bridge tokenized assets between Ethereum Virtual Machine (EVM) and non-EVM compatible blockchains.
In the seven months since launch, Allbridge has bridged over $4.8 billion in assets, making it the largest cross-chain asset bridge spanning Solana, Fantom, Avalanche, Celo, Polygon, Ethereum, BSC, Terra and more supported.
Founded by Andriy Velykyy and Yuriy Savchenko, who have been collaborating on many different crypto payment integrations and multi-chain non-custodial crypto wallets since 2016, Allbridge aims to serve all types of Layer 1 and Layer 2 networks connect to achieve more interoperability DeFi.
Allbridge not only allows users to interact with and transfer assets between EVM-based blockchains such as Ethereum, Polygon and BSC, but also bridges non-EVM-compatible blockchains such as Solana and Terra.
“We want to be the platform of choice that connects all major blockchain and digital assets on the market and enables billions of token transfers every day. We are also working on APIs that allow developers to build dApps on top of Allbridge. Allbridge-based cross-chain swaps are the easiest way to exchange any asset between any network, enabling new capabilities such as cross-chain lending, where users can leverage collateral on one chain to receive assets on another chain. “
– Andriy Velykyy, co-founder of Allbridge
With Allbridge, users can choose the network they want to provide liquidity to, whenever and wherever they want, with just a few clicks.