0x Labs Closes $70m Series B, Set To Expand Web3 Core Exchange Infrastructure

0x Labs, the firm behind blockchain infrastructure development protocol 0x, has announced that it has closed a $70 million Series B in an investment round led by Greylock, a key industry player in blockchain project investments.

The recently closed Series B funding round also saw the participation of Pantera Capital, A.Capital, Jump Capital, Sound Ventures, OpenSea, Coinbase, Brevan Howard, Reid Hoffman, and Jared Leto. According to 0x Labs, the newly injected funds will be used to expand their team and its product and service offerings.

0x Labs has previously launched Match, a token search engine, alongside the 0x API which provides multi-chain aggregated liquidity as a service. 0x Labs has also developed the 0x Protocol, a community-owned, global backbone serving decentralized exchanges in the growing DeFi sector.

“0x Labs helps businesses eliminate the complexity of accessing decentralized markets across all layers of the Web3 exchange stack. We provide solutions that can be used to easily incorporate exchange functionality for all tokenized assets, including cryptocurrencies, DeFi tokens, and NFTs, at the best prices and with the lowest transaction costs. By using 0x technology, businesses will have more time to focus on what matters: their product,” shares 0x Labs co-founder and co-CEO Amir Bandeali.

The 0x protocol and infrastructure suite currently has support for major blockchains such as Ethereum, Polygon, Avalanche, Fantom, BNB Chain, Optimism, and Celo. The protocol also has several integrations across prominent decentralized wallets and applications such as MetaMask, Coinbase’ Wallet and NFT platform, Polygon Wallet, Brave’s built-in wallet for its browser, dYdX, Zapper, Zerion, and Shapeshift.

According to 0x Labs, their team’s vision is to build a tokenized world “where all value can flow freely.”

The 0x infrastructure suite, alongside the integrations for its protocol, has served over $157 billion in tokenized value across multiple blockchains, processing over 43 million trades for more than three and a half million users.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.