Mezo, Thesis’s permissionless Bitcoin Economic Layer, raised $7.5m in strategic funding.
The round was led by Ledger Cathay Fund, Ledger and Cathay Innovation’s early-stage venture fund, with participation from ArkStream, Aquarius Fund, Flowdesk, GSR, Origin Protocol and Bybit ecosystem project, Mantle’s EcoFund. This brings total funding for Mezo to $30M following its launch in April 2024.
Mezo will use the capital to accelerate technology development and grow the BitcoinFi ecosystem. This includes focus on integrating other ecosystem partners, like the recently announced integration of yield protocol, Acre, and wallet partners to enable a fulsome BitcoinFi experience, like the recently announced ability for Mezo users to “log in” with Bitcoin using both hardware wallets and web wallets like Unisat, OKX, and Xverse. Ledger plans to integrate Mezo directly into its suite of products with further details on integrations to be disclosed in the near future.
Led by founder Matt Luongo, who is also the CEO of Thesis, Mezo amplifies Bitcoin’s infrastructure by facilitating cheap, efficient transactions. In turn, it preserves the Bitcoin network’s foundational principles, including security, dedication to open-source development, and a BTC-first HODL mentality. Distinct from other Bitcoin L2s, Mezo provides users access to applications usable in the real world. Features include Thesis-built tBTC, which allows for trust-minimized bitcoin bridging to numerous ecosystems, plus staking with stBTC, supported by Acre, Thesis’ recently launched Bitcoin-in, Bitcoin-out staking platform.
MTo date, Mezo has $124.5M in total volume locked and 2,152 Bitcoin deposited in the protocol.
FinSMEs
29/07/2024