City
Epaper

Omega Secures USD 6 Million in Funding to Help Users Leverage Cross-chain Digital Assets

By ANI | Updated: February 9, 2024 10:40 IST

PRNewswireMiami [US], February 9: Omega has closed a $6 million funding round, marking a significant milestone in its ...

Open in App

PRNewswire

Miami [US], February 9: Omega has closed a $6 million funding round, marking a significant milestone in its quest to integrate native Bitcoin into the decentralized finance (DeFi) landscape. This substantial financial infusion came across three investment rounds, featuring contributions from an impressive roster of participants including Lightspeed Faction, Borderless Capital, Wormhole Cross-Chain Ecosystem Fund (operated by Borderless Capital), Bankless Ventures, Wave Digital, Blockchain.com, Blockchain Founders Fund, Kronos Ventures, XTBO Humla, Cadenza, Psalion Ventures, AlphaLab Capital, Side Door Ventures, and MH Ventures, among others.

These funds are earmarked for the development and launch of a pioneering decentralized platform, designed to empower Bitcoin owners to unlock the yield-generating potential of their Layer 1 Bitcoin assets. With plans to unveil its public beta in the upcoming 60 days, Omega is on track to redefine the utility of Bitcoin within the DeFi ecosystem, offering unprecedented opportunities for yield generation.

'We're thrilled to have the backing of our respected investment partners," shared Wes Cowan, Co-Founder and CEO of Omega. "This financial and adviosry support enables us to further our quest in expanding the horizons of Bitcoin DeFi."

"We are delighted to be part of Omega's journey as they pave the way for unlocking the true potential of Bitcoin in DeFi. This investment underlines our belief in Omega's team and their vision to revolutionize yield generation for Bitcoin holders, and we eagerly anticipate the impact of their work on the future of decentralized finance," shared Aly Madhavji, Managing Partner at Blockchain Founders Fund.

Eric Ryklin, Co-Founder and COO of Omega, expressed profound pride in the team's steadfast commitment and creative innovation. "This funding achievement affirms our mission to revolutionize the DeFi domain," he remarked. "We're now poised to launch our public beta, an important step toward empowering Bitcoin investors and driving significant advancements in the Bitcoin DeFi arena."

Omega is committed to driving the next wave of advancements in Bitcoin DeFi, and this funding milestone positions the project for significant adoption in the coming months.

About Omega

OMEGA.xyz is a Web3 infrastructure provider enabling the collateralization of idle bitcoin for yield generation in DeFi.

please contact Jonathan Duran at (310) 260-7901 or Jonathan@Melrosepr.com

Photo - https://mma.prnewswire.com/media/2337172/Omega_Omega_Secures__6_Million_in_Funding_to_Help_Users_Leverage.jpg

(ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire.will not be responsible in any way for the content of the same)

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

MumbaiMumbai Local Train Commuter Attacks Railway Staff, Vandalises Office at Borivali Station After Being Caught Without Valid Ticket (VIDEO)

InternationalIndia's US crude oil imports surge 51 per cent following Trump's return to office: Sources

Other Sports5th Test: Siraj dismisses Crawley on last ball after Jaiswal century puts England on chase of 374

Other Sports5th Test: Siraj castles Crawley as England reach 50/1, need 324 runs to secure series win

International"You have been gravely misled by Pakistani military leadership": Baloch leader to Trump, says oil reserves belong to Balochistan

Business Realted Stories

BusinessTaiwan to face economic risk as US mulls semiconductor tariffs under Trump proposal: Think tank

BusinessPiyush Goyal meets steel, engineering sector leaders to boost competitiveness and global role

BusinessIndiGo bans passenger for slapping co-traveller on Mumbai-Kolkata flight

BusinessED Makes First Arrest in Rs 3,000-Crore Anil Ambani Loan Fraud Case

BusinessMahindra & Mahindra buys 59 pc stake in SML Isuzu for Rs 555 crore