Across Protocol has raised $41 million in a token sale round led by Paradigm. The funding will enhance Ethereum's connectivity with Layer 2 networks. Bain Capital Crypto, Coinbase Ventures, and Multicoin Capital also participated. This brings Across' total funding to $51 million. The project now boasts a fully diluted valuation of $225 million. Its ACX token currently trades at $0.23.
Across simplifies cross-chain transactions through intents-based interoperability. Users can swap tokens or deposit assets with a single request. The protocol handles complex transfers behind the scenes.
Hart Lambur, co-founder of Risk Labs, emphasizes speed as Across' key differentiator. Most L2 to L2 transfers occur in under 5 seconds. The project also spearheaded ERC-7683, a cross-chain standard adopted by over 50 protocols.
Across has processed $19 billion in total volume to date. It aims to drive broader adoption of ERC-7683 and support Ethereum's rollup-centric strategy. The team of 40 is expanding, focusing on engineering roles. Paradigm's Dan Robinson praised Across' vision for unifying the Ethereum ecosystem. The project continues to innovate in the rapidly evolving interoperability space.
