Key Points
- Bitcoin-native application platform Arch has secured $7 million in seed funding led by Multicoin Capital.
- Arch is a unique platform that allows for direct trading on the Bitcoin blockchain.
Arch Labs, the creators of the Bitcoin-native application platform Arch, have successfully raised $7 million in a seed funding round. Multicoin Capital was the leading investor in this venture.
Investors and Funding
Other investors involved in the round were Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings, and Tangent. The fundraising began in March and closed in April, thanks to a high level of investor interest. The funding round was structured as a simple agreement for future equity (SAFE) with token warrants.
About Arch
Arch is unique in that it claims to be the first Bitcoin-native application platform. It enables direct trading on the Bitcoin blockchain. Matt Mudano, co-founder of Arch, stressed that Arch is not a Bitcoin Layer 2 network, but a Bitcoin-native application platform.
He explained that while most Layer 2 networks aim to improve scalability or introduce lower fee models on top of existing blockchains, Arch does not require users to bridge assets to an L2 to use programmable Bitcoin-based assets. This user custody aspect sets Arch apart from other Bitcoin L2s.
Developers can deploy applications on Arch quite easily. The ArchVM is entirely built in Rust, a programming language also used by Solana. For users, engaging with Arch-based applications will be straightforward, regardless of the Bitcoin wallet they use.
Several projects within the Bitcoin ecosystem have already begun migrating to Arch. More than 20 stealth-stage projects across stablecoins, decentralized exchanges, borrow/lend markets, and more are building on Arch’s devnet.
The next step for Arch is a public devnet, followed by its mainnet launch later this year. The Arch Foundation also plans to support the Bitcoin ecosystem through upcoming hackathon and grant programs.
