London, UK: OneBalance, a pioneering framework enabling seamless multichain account management through chain abstraction, gas abstraction, and permission management, has successfully raised $20 million in a Series A funding round.
The funding was co-led by cyber•Fund and Blockchain Capital, with additional participation from Mirana Ventures and L2IV. This investment follows OneBalance’s $5 million Angel and Community round secured in June 2024.
Funding to Accelerate Development and Global Expansion
OneBalance plans to utilize the newly raised capital to scale its operations and accelerate product development, further enhancing its platform capabilities to support the growing demand for multichain solutions.
Revolutionizing Onchain Interactions with OneBalance Toolkit
Led by Stephane Gosselin (CEO), Daniel Worsley (COO), and Ankit Chiplunkar (CTO), OneBalance offers an innovative API platform that enables developers to build one-click interactions across any blockchain, action, or token. The company’s flagship product, the OneBalance Toolkit, simplifies complex multichain transactions by providing a Chain Abstraction solution that allows users to maintain a single balance while performing transactions across different blockchain networks without worrying about bridging, gas fees, or network switching.
This cutting-edge toolkit is particularly suited for applications that require reliable onchain execution, supporting functions such as swaps, yield generation, token transfers, and arbitrary calldata execution directly out of the box.
Key Use Cases for the OneBalance Platform
OneBalance’s versatile solution is designed to power a wide range of onchain applications, including:
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Onchain SuperApps: Wallets, decentralized exchanges, and launchpads that offer seamless, one-click transaction experiences.
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Fintech Applications: Stablecoin-powered apps that can access over 14 million tokens while earning revenue from transaction fees.
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AI Agents: Autonomous services and bots that require dependable execution across multiple chains via a single API call.
Shaping the Future of Multichain Transactions
With this significant funding milestone, OneBalance is poised to play a critical role in simplifying blockchain interactions, driving user adoption, and enabling the next generation of multichain decentralized applications (dApps). The company’s focus on chain abstraction and frictionless user experiences positions it as a leader in the evolving Web3 infrastructure landscape.