TechFlow News, Arch Labs, the developer of Bitcoin-native application platform Arch, has announced the completion of a $7 million seed round led by Multicoin Capital, with participation from Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings, and Tangent.
Arch is a Bitcoin-native application platform aiming to bring "bridgeless transactions" to the Bitcoin blockchain. Developers can easily deploy applications on Arch, and users can access them without needing to download special wallets. Several projects within the Bitcoin ecosystem have already begun migrating to Arch, and over 20 stealth-mode projects are currently building on its testnet.
The next step is launching a public development network, followed by a mainnet launch in the second half of this year. At that time, an incentive points program will be introduced to help drive ecosystem growth. The Arch Foundation also plans to support the Bitcoin ecosystem through hackathons and grant programs.
