BlockBeats reported on November 15 that Kinto, an Ethereum Layer 2 network, has completed a financing round of US$3.5 million. Cited from Coindesk, this funding round was headed by Kyber Capital Crypto, Parafi, and Spartan Group, with additional participation from SkyBridge Capital, Deep Ventures, Kraynos, Modular, Tane, Soft Holdings, and Robot Ventures.
Moreover, Kinto disclosed that earlier in the year, the project received a pre-seed investment of US$1.5 million from Kyber Capital Crypto. This brings the total funding to US$5 million.
As per the official description, Kinto is a Layer 2 network based on OP Stack. It aspires to become the first Know Your Customer (KYC) Layer 2 that can cater to both modern financial institutions and decentralized protocols, facilitating secure and efficient transactions on the Ethereum network.
