TechFlow News — Babylon, a Bitcoin ecosystem staking infrastructure provider, has raised $18 million in funding led by Polychain Capital and Hack VC, with participation from Framework Ventures, Polygon Ventures, Castle Island Ventures, OKX Ventures, Finality Capital, Breyer Capital, and Symbolic Capital. Babylon will use the funds to advance the development of its staking protocol.
Babylon aims to transform all 21 million existing BTC into decentralized staking assets. Currently, nearly 19.6 million bitcoins are in circulation.
Babylon operates as a marketplace enabling proof-of-stake chains to access capital from the vast reserves held within the largest cryptocurrency.
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