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HTX Ventures Invests in Nexio to Enhance The Bitcoin Ecosystem

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HTX Ventures Invests in Nexio to Enhance The Bitcoin Ecosystem
Business

Business

HTX Ventures Invests in Nexio to Enhance The Bitcoin Ecosystem

2024-08-07 02:51 Last Updated At:03:15

SINGAPORE, Aug. 7, 2024 /PRNewswire/ --  HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in Nexio. Nexio is an innovative Bitcoin scaling solution that employs parallelized ZK Rollup with MoveVM.

Powered by MoveVM, Nexio's parallelized Bitcoin rollup supports over 30,000 transactions per second while maintaining gas fees below $0.01, making it ideal for high-frequency applications. This technology addresses critical challenges in the Bitcoin ecosystem, including slow transaction times, high gas fees, and inadequate tooling that have hindered mass adoption.

Nexio has recently raised $2.2 million in pre-seed funding led by Lattice Fund, with participation from HTX Ventures. Aiming to revolutionize Bitcoin's scalability and usability, this funding will enable Nexio to accelerate the development and adoption of its parallelized Bitcoin rollup technology. Nexio is establishing new norms in blockchain technology under the leadership of co-founders skilled in Bitcoin zkVM Rollup development.

Nexio's technology combines a zk-Rollup, Multi-Party Computation (MPC) Threshold Signature Scheme, and the Fractal interpreter to set new benchmarks in speed, security, and interoperability. By utilizing MPC Threshold Signatures, Nexio prevents single points of failure, offering robust, decentralized transaction validation that is more secure than traditional multisig approaches.

"Nexio's innovative Bitcoin scaling solution is designed to enhance Bitcoin's capabilities and bridge the gap between different blockchain ecosystems. It seamlessly integrates applications and liquidity from Move, Cosmos, and any EVM-compatible ecosystems into Bitcoin," said Edward, Managing Partner at HTX Ventures. "Nexio also offers highly competitive low gas fees while providing a high TPS infrastructure. HTX Ventures is excited to support Nexio in unlocking a new era of innovation and adoption within the Bitcoin ecosystem, facilitating the growth of complex DeFi applications, gaming platforms, NFT marketplaces, and infrastructure projects on its platform."

"Nexio's vision is to unlock Bitcoin's full potential by providing scalable, secure, and cost-effective infrastructure," said Charlie Gordon, co-founder of Nexio. Through its partnership with Movement Labs, Nexio has built a framework that combines horizontal interoperability through high-throughput modular Move Virtual Machines with vertical composability. This integration enables developers to build with Aptos move, Sui move, and Solidity, ensuring robust cross-chain functionality and seamless asset movement across platforms.

Nexio aims to achieve several key milestones in the next 6-12 months, including the rollout of a permissionless testnet and the subsequent launch of their mainnet solution. These developments will mark significant steps toward revolutionizing the Bitcoin ecosystem with enhanced scalability, security, and interoperability.

About Nexio

Nexio is revolutionizing Bitcoin scalability through a parallelized Bitcoin rollup. The team is building a suite of products and services that empower developers to leverage the power of Bitcoin for complex DeFi applications, gaming platforms, NFT marketplaces, and infrastructure projects without compromising on security or efficiency. Nexio's technology supports over 30,000 transactions per second with ultra-low gas fees, making it ideal for high-frequency applications. Led by co-founders with significant expertise in Bitcoin zkVM rollup development, Nexio is setting new standards in blockchain technology.

For more information, follow on X @buildnexio and on Discord

About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.

Feel free to contact us for investment and collaboration at VC@htx-inc.com

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

HTX Ventures Invests in Nexio to Enhance The Bitcoin Ecosystem

HTX Ventures Invests in Nexio to Enhance The Bitcoin Ecosystem

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IFEZ captivates global audience with its innovative companies at CES 2025

2025-01-21 18:49 Last Updated At:19:05

INCHEON, South Korea, Jan. 21, 2025 /PRNewswire/ -- The Incheon Free Economic Zone Authority (IFEZ) has announced that the 'INCHEON-IFEZ' booth at CES 2025 showcased its vision for the future of smart cities and promoted innovative companies from Incheon to a global audience.

CES 2025 (Consumer Electronics Show 2025), the largest technology exhibition in the world, took place in Las Vegas, USA, from Tuesday, January 7, to Friday, January 10th.

The INCHEON-IFEZ Booth, themed "Urban Renaissance: Building Tomorrow's Smart Cities Today," garnered attention by demonstrating a sustainable urban future powered by advanced technologies from Incheon-based companies. During the event, the booth welcomed more than 12,000 visitors.

To boost the global presence of Incheon's startups, IFEZ supported the participation of 41 companies at CES 2025, dividing them across various exhibition areas: 10 companies in the 'INCHEON-IFEZ' Booth at the Las Vegas Convention Center, 10 in the Korea pavilion (KOTRA) at the Eureka Park, 6 in the Global Pavilion, and 15 as the Incheon Startup Park Delegation.

These companies achieved record-breaking results, conducting 869 export consultations with international buyers and investors, which amounts to an estimated $400 million in potential deals.

Notably, Sheco, a company specializing in robotic solutions for recovering oil spills, was highlighted as one of the "12 Must-See Startups at CES 2025" by The Vertical, a U.S. media outlet covering tech startups, underscoring the company's innovative capabilities.

Six companies signed 10 Memorandums of Understanding (MOUs) for tangible outcomes, creating opportunities for global market expansion and attracting investments.

Additionally, 12 companies supported by IFEZ won 13 CES Innovation Awards, setting a new record. The award-winning companies attracted significant interest from global buyers and investors, firmly establishing their innovation and technological prowess on the world stage.

At CES 2025, IFEZ actively promoted its initiatives and innovative companies through various programs. On the first day of the exhibition, the 'Unveiled Incheon Media Stage' was held for about 30 global media outlets. This event highlighted IFEZ's commitments to supporting businesses with world-class infrastructure and fostering global cooperation centered on its thriving innovation ecosystem.

Also, "All Connected Incheon Night," held on the evening of January 7 (local time), brought together distinguished global leaders, including Kate Gallego, Mayor of Phoenix; Victor Hoskins, CEO of Fairfax County Economic Development Authority; and Doug Bruhnke, CEO of Global Chamber.

IFEZ signed a Memorandum of Understanding (MoU) with Global Chamber, a global business network organization during the gathering. This collaboration aims to strengthen the partnership and better support startups in expanding worldwide.

Commissioner Yun Wonsok said, "Through this participation in CES, we have showcased IFEZ's smart city vision to the global market and taken a step closer to our goal of becoming a 'Global Top 10 City, Incheon.'" He emphasized, "We will continue to support IFEZ and Incheon startups in leading the global market and do our utmost to develop Incheon into a global business hub."

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

IFEZ captivates global audience with its innovative companies at CES 2025

IFEZ captivates global audience with its innovative companies at CES 2025

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