November 8, 2024
MAP Protocol, a platform focused on advancing Bitcoin interoperability, has received a $1 million strategic investment from Gryps, a blockchain company specializing in structured digital asset products. The investment strengthens MAP Protocol’s ongoing development of Bitcoin Layer 2 solutions, targeting integration across EVM and non-EVM blockchain environments. Gryps’ commitment reflects its support for innovations within the Bitcoin financial (BTCFi) ecosystem, aiming to build greater connectivity and functionality in the crypto space.
Launched in 2019, MAP Protocol utilizes zero-knowledge (ZK) light-client technology to enable efficient connections between the Bitcoin network and diverse blockchain ecosystems. By bridging gaps between different layers and chains, MAP Protocol offers developers and users an interoperable infrastructure. With the new funds, the company plans to expand capabilities, optimizing operational efficiencies within BTCFi and enhancing liquidity. The investment aligns with a broader industry push for solutions that integrate traditional finance with digital assets, enhancing Bitcoin’s presence in global finance.
About MAP Protocol
MAP Protocol is an interoperability layer connecting the Bitcoin network with both EVM and non-EVM ecosystems, leveraging ZK light-clients for efficient cross-chain communication. It serves as a gateway for developers and users to access Bitcoin’s growing ecosystem, promoting compatibility across Layer 2 solutions.
Website: https://www.mapprotocol.io/
X: @MapProtocol
About Investor
Gryps
Gryps is a leading provider of structured financial products for the digital asset market. Founded by a team of quants and traditional finance experts, the company specializes in developing tailored digital asset products that cater to diverse customer needs. Gryps focuses on delivering competitive returns while navigating the unpredictable dynamics of the crypto market.
Location: New York
Website: https://gryps.xyz/en A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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