OneBalance Secures $20 Million for Crypto UX Enhancement

Generated by AI AgentCoin World
Wednesday, Jun 11, 2025 12:14 pm ET1min read
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OneBalance, a platform designed for multichain applications, has successfully secured $20 million in Series A funding. This investment round was spearheaded by cyber•Fund and Blockchain Capital, with additional support from Bybit’s

Mirana
Ventures and L2IV. The primary objective of this funding is to enhance the user experience (UX) for developers and fintech companies within the crypto industry.

The platform was established by an ex-Coinbase engineer and core contributors from Flashbots. OneBalance aims to address the fragmented UX issue in the crypto industry through its Toolkit technology. This technology allows users to transfer, swap, or earn yield with just one click, eliminating the need to manage underlying networks, bridge funds, or handle gas tokens.

Daniel Worsley, co-founder and chief operating officer of OneBalance, highlighted that developers integrating via the Toolkit can earn revenue directly through configurable transaction fees. These fees, including gas, can be bundled into a single abstracted payment from the user, resulting in faster execution, higher conversion, and better capital efficiency.

OneBalance’s Toolkit has already demonstrated success with native Bitcoin-to-Ethereum Virtual Machine (EVM) swaps. The company plans to extend support to Solana and other major networks in the coming weeks. Additionally, OneBalance introduced Resource Locks in early 2024, offering a new approach to crosschain transactions. This feature enables asynchronous execution across blockchains, preventing double-spending by co-signing and sequencing user transactions through the protocol itself.

Resource Locks allow users to lock funds across chains with a single cryptographic intent, eliminating the need for pre-bridging. Combined with balance aggregation, it enables users to deploy funds fragmented across many chains without the need to bridge before taking action. Unlike traditional blockchain bridges, Resource Locks eliminate pooled assets, central vaults, and smart contract balances, providing a more secure solution for crosschain transactions.

In 2022, hackers stole $600 million from Axie Infinity’s Ronin Bridge after compromising a multisignature private key setup, underscoring the vulnerabilities that OneBalance seeks to address. The company’s innovative approach aims to streamline the crypto user experience, making it more accessible and secure for developers and fintech companies.