Byzantine Finance Raises $3 Million in Pre-Seed Funding
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Reset protocol startup Byzantine Finance has raised $3 million in pre-seed funding. The round was led by Node Capital and Blockwall Ventures, with participation from over 30 investors, including Lightshift, Masterkey, Kiln Ventures, and angel investors from EigenLayer, LayerZero, and Ledger.
Byzantine Finance will use the funds to develop its permissionless “aggregation layer,” a unique protocol that allows blockchains to share liquidity, users, and state without sacrificing the autonomy of each chain.
Byzantine Finance is focused on serving institutions and professional investors by providing a secure multi-chain reset protocol. This is described as a form of “internet bond” where institutions can stake assets to earn interest while protecting multiple protocols.
According to Byzantine Finance co-founder Gaia Ferrero Regis, there is a huge demand for repo services from institutions but it is currently fragmented across different networks such as Ethereum, Solana, Bitcoin and other Layer 2s. Byzantine Finance aims to solve this problem and help institutions maximize their returns by providing a secure and efficient repo platform.
With the support of this funding round, Byzantine Finance hopes to become a disruptive solution, providing institutional-grade repo services, meeting the growing demand from investors in the crypto space.
