XION: New Stage of L1 Blockchain Development
Date: 2024-04-03 Author: Oliver Abernathy Categories: BLOCKCHAIN
L1 blockchain XION, focused on making Web3 more accessible, announced it has raised $25 million in funding from leading investors including Animoca Brands, Laser Digital, Multicoin, and others.
XION is a blockchain that uses an infrastructure solution called "generalized abstraction" to make Web3 accessible to a wide range of users.
The project team emphasized that XION becomes the first blockchain that allows developers to create, launch and scale Web3 products from scratch. In addition, the integration of the USDC stablecoin allows it to be used as the main transaction currency.
New Opportunities with New Capital
The funds received will be used to further develop the global XION ecosystem, as confirmed by the main developer of the network, Bernt Banksy. He emphasized that thanks to XION, people will be able to easily interact with decentralized applications without the need to remember seed phrases or store private keys.
The $25 million investment raise reflects investor confidence in XION and its potential to change the Web3 landscape.
