OneBalance Raises $20 Million to Eliminate Cross-Chain UX Friction

OneBalance, a new developer platform designed to eliminate cross-chain user experience (UX) friction, has successfully raised $20 million in a Series A funding round. This investment is aimed at addressing the challenges users face when navigating the complexities of interacting with multiple blockchain networks. The platform is co-founded by veterans from Flashbots and a former Coinbase engineer, bringing a wealth of expertise to the table.

The funding round was led by cyber•Fund and Blockchain Capital, with additional backing from Bybit’s Mirana Ventures and L2IV. This significant investment underscores the confidence that leading investors have in OneBalance's mission to revolutionize the cryptocurrency user experience. The platform's goal is to create a seamless and intuitive experience for users, regardless of the blockchain they are using. This is particularly important as the cryptocurrency ecosystem continues to grow and diversify, with new blockchains and decentralized applications (dApps) emerging regularly.

OneBalance's approach to solving the UX problem is multifaceted. The platform aims to provide developers with the tools they need to build applications that can operate seamlessly across different blockchains. This includes APIs and SDKs that simplify the process of integrating multiple blockchains into a single application. By doing so, OneBalance hopes to create a more cohesive and user-friendly experience for cryptocurrency users, who often struggle with the technical complexities of interacting with different blockchains.

The $20 million investment will be used to further develop the platform's technology, expand its team, and accelerate its growth. OneBalance plans to use the funds to hire top talent in the fields of blockchain development, UX design, and cybersecurity. The company also intends to invest in marketing and outreach efforts to raise awareness of its platform and attract more developers and users to its ecosystem.

The success of OneBalance's funding round is a testament to the growing recognition of the importance of user experience in the cryptocurrency space. As the industry continues to evolve, there is an increasing demand for solutions that can make cryptocurrencies more accessible and user-friendly. OneBalance's focus on eliminating cross-chain UX friction positions it as a leader in this area, and its $20 million Series A funding round is a significant step towards achieving its vision of a seamless and intuitive cryptocurrency experience.

OneBalance was founded by core contributors to Flashbots, the Ethereum-centric research and development startup that aims to remove the negative impacts of maximal extractable value (MEV). The OneBalance Toolkit offers developers one-click access to transfers, swaps, and yield across chains, and already supports native Bitcoin-to-EVM swaps, with Solana integration coming soon. Early OneBalance partners include DSX, Vooi, Spritz, and Nuvolari. The latest fundraising follows a $5 million angel round in 2024 that included participation from Consensys, Wintermute, Anagram, Cobie, and others.