HTX Ventures Invests in Nexio to Enhance The Bitcoin Ecosystem

SINGAPORE, Aug. 6, 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.

Cryptocurrency exchange HTX's global investment arm, HTX Ventures, has announced a strategic investment in Nexio, an innovative Bitcoin scaling solution that employs parallelized ZK Rollup with MoveVM.

Nexio's parallelized Bitcoin rollup is capable of handling over 30,000 transactions per second (TPS) while maintaining gas fees below $0.01, making it ideal for high-frequency applications. This technology aims to address critical challenges in the Bitcoin ecosystem, including slow transaction times, high gas fees, and inadequate tooling that have hindered mass adoption.

The pre-seed funding round for Nexio was led by Lattice Fund with participation from HTX Ventures, and the total amount raised stands at $2.2 million. This funding will enable Nexio to accelerate the development and adoption of its parallelized Bitcoin rollup technology.

Nexio's co-founders are highly skilled in Bitcoin zkVM Rollup development, and the company is setting new standards in blockchain technology. Their vision is to provide a scalable, secure, and cost-effective infrastructure that will unlock Bitcoin's full potential.

Edward, Managing Partner at HTX Ventures, commented on the investment, stating, "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."

"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 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.

Charlie Gordon, co-founder of Nexio, had this to say about the partnership, "Nexio's vision is to provide a fully scalable, secure, and interoperable infrastructure that will unlock Bitcoin's potential for complex DeFi applications, gaming platforms, NFT marketplaces, and infrastructure projects."

"Through our partnership with Movement Labs, we have built a framework that combines horizontal interoperability through high-throughput modular Move Virtual Machines with vertical composability. This integration will enable developers to build with Aptos move, Sui move, and Solidity, ensuring robust cross-chain functionality and seamless asset movement across platforms."

Nexio plans to roll out a permissionless testnet within the next 6-12 months, followed by the launch of their mainnet solution. These developments will mark significant steps toward revolutionizing the Bitcoin ecosystem with enhanced scalability, security, and interoperability.

About NexioNexio is revolutionizing Bitcoin scalability with 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 deep expertise in Bitcoin zkVM rollup development, Nexio is setting new standards in blockchain technology.

For more information, follow on Twitter @buildnexio and on Discord.

About HTX VenturesHTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide.

With more than a decade-long history as an industry pioneer, HTX Ventures is adept 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.

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

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