TechFlow news, May 9 — Bitcoin Asia 2024 kicked off today. UXUY, a next-generation decentralized multi-chain trading platform incubated by Binance Labs, announced at the event in Hong Kong the completion of a $7 million Pre-A funding round, bringing its total raised capital to over $10 million since inception. As a key builder within the Bitcoin ecosystem, UXUY has enabled more than 100,000 traders to utilize Bitcoin's Lightning Network services.
This round was backed by leading institutions from Asia, North America, and Europe, including Binance Labs, JDI Ventures, UTXO Management (Bitcoin Magazine), Bixin Ventures, SWC Global, Comma3 Ventures, CMS Holdings, Matrix Partners, Satoshi Labs, Dewhales Capital, YBB Capital, GBV Capital, Web3 Vision, Pentos Ventures, Absoluta Digital, PAKA, DefinanceX, Dreamlabs, Greythorn Asset Management, NGC Ventures, Longrun Capital, Metalpha, and GSR.
The newly raised funds will be allocated toward building infrastructure for the Bitcoin ecosystem, with a focus on enabling efficient and low-cost trading of assets such as Lightning Network Taproot Assets, Ordinals BRC-20, and Runes.
Jordan, co-founder of UXUY, said: "We are thrilled to welcome all our investors as strategic partners! Over the past year, we've successfully bridged the Bitcoin Lightning Network with the multi-chain ecosystem. UXUY will continue to drive use cases and adoption of the Lightning Network in trading scenarios, making greater contributions to the Bitcoin ecosystem."
