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XION Raises $25M Funding to Drive Web3 Mass Adoption

XION secures $25M investment from industry giants like Animoca Brands and Nomura’s Laser Digital to fuel the mainstream adoption of web3. Learn about its mission to simplify blockchain for all.

Eliza Crichton-Stuart author picture}

Eliza Crichton-Stuart

Head of Operations

XION Raises $25M Funding to Drive Web3 Mass Adoption

In a bid to propel the mainstream adoption of web3 technology, XION a blockchain platform, has successfully raised $25 million in its latest funding round. The investment garnered significant participation from renowned entities including Animoca Brands, Nomura’s Laser Digital, Multicoin, Arrington Capital, Draper Dragon, Sfermion, GoldenTree, and more. In this article, you will learn about XION's platform and its mission to simplify blockchain for all.

XION Raises $25M Funding to Drive Web3 Mass Adoption

Blockchain Mass Adoption

XION is dedicated to simplifying the complexities of blockchain technology, with a focus on making it accessible to the masses. The company's platform aims to facilitate the creation of highly scalable, user-friendly applications on blockchain, utilizing what they term a "Generalised Abstraction layer" to remove technical barriers for users.

According to details outlined in the XION Whitepaper, this abstraction layer prioritizes user experience at the protocol level, ensuring secure, intuitive, and seamless interactions through protocol-level implementations covering abstracted accounts, signatures, fees, and interoperability.

XION Secures $25M Funding Round to Accelerate the Mainstream Adoption of Web3

Primary Currency and Token

One notable aspect of XION's platform is its integration of USDC as the primary transactional currency, a departure from the traditional approach of launching a native token. This strategic move is aimed at enhancing predictability in pricing across all ecosystem interactions.

Moreover, XION has introduced Meta Accounts, enabling users to effortlessly join its ecosystem using familiar web2 login methods such as email and biometrics. Burnt Banksy, a Core Contributor to the XION network, expressed excitement about the platform's potential to make crypto accessible, emphasizing the seamless interaction with decentralized applications directly on users' mobile devices.

XION Secures $25M Funding Round to Accelerate the Mainstream Adoption of Web3

Final Thoughts

With plans underway for its mainnet launch, XION is actively assembling a team of partners to further its mission. The recent influx of capital will be instrumental in accelerating the development of its platform and expanding its global ecosystem, solidifying its commitment to democratizing access to web3 technology.

In summary, XION's successful funding round underscores the growing momentum behind efforts to mainstream web3 adoption. With the support of key investors and a clear vision to simplify blockchain technology, XION is poised to make significant strides in its mission of making web3 accessible to everyone.


NewsInvestments

updated:

April 2nd 2024

posted:

April 2nd 2024

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