Solana-based cross-chain bridge Allbridge raises $2M to support growth

Allbridge, a cross-chain bridge that allows users to transfer assets between different blockchain networks, announced today that it has secured $2 million in funding led by Race Capital. Allbridge provides an easy way to bridge tokenized assets between the Ethereum Virtual Machine (EVM) and non-EVM compliant blockchains.

In the seven months since launch, Allbridge has bridged over $4.8B in assets, making it the largest cross-chain asset bridge supporting Solana, Fantom, Avalanche, Celo, Polygon, Ethereum, BSC, Terra, and more.

Allbridge was founded by Andriy Velykyy and Yuriy Savchenko, who have collaborated since 2016 on many different crypto payment integrations and non-custodial multi-chain crypto wallets to connect various layer 1 and 2 networks to bring more A lot of interoperable decentralized finance.

Not only does Allbridge enable users to interact and transfer assets with EVM-based blockchains such as Ethereum, Polygon, and BSC, it also bridges non-EVM-compliant blockchains such as Solana and Terra.

“We want to be the go-to platform for connecting all the popular blockchains and digital assets in the market, enabling billions of token transfers every day. We are also developing APIs that will enable developers to build dApps on top of Allbridge. Built on Allbridge The cross-chain swap is the easiest way to exchange any asset between any network, enabling new features like cross-chain lending, where users can leverage collateral on one chain to receive assets on another.”
– Andriy Velykyy, co-founder of Allbridge

Allbridge enables users to choose the network they want to provide liquidity anywhere, anytime.

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