According to Foresight News, Owlto Finance, an intent-centered cross-chain protocol, has announced the completion of an $8 million strategic funding round. The round was jointly led by Bixin Ventures and CE Innovation Capital, with participation from Presto, Hailstone Labs, Skyland Ventures, Blocore, SNZ Capital, BESTO, Kroma, Coinseeker.co, Stratified Capital, X21 Digital, Maxx Capital, Incubate Fund, GSR, and ChainCatcher. The funds raised will primarily be used to accelerate the upgrade of its AI intent cross-chain product, the development of modular cross-chain protocols, global operations and marketing, the V2 full-chain liquidity solution, and capital market operations.
Initially launched as an ETH Layer2 cross-chain bridge, Owlto Finance has managed to capture over 75% of the third-party cross-chain volume in some ETH Layer2 networks within about six months of going live. Recently, Owlto Finance has also expanded into the Bitcoin ecosystem. Currently, the platform boasts over 1.6 million unique addresses from more than 206 countries and regions.
