OneBalance, a platform for multichain applications, has secured a $20 million Series A funding round to enhance the crypto user experience for developers and fintechs. Led by cyber•Fund and Blockchain Capital, with participation from Bybit’s Mirana Ventures and L2IV, the investment aims to address the industry's fragmented UX issue. OneBalance's Toolkit technology simplifies tasks like transferring, swapping, and earning yield in a single click, eliminating the need to manage gas tokens or bridge funds. Developers integrating via the Toolkit can earn revenue through configurable transaction fees, enhancing efficiency. The Toolkit has successfully facilitated Bitcoin-to-Ethereum swaps and will soon support Solana and other networks. The Resource Lock feature ensures secure crosschain transactions by enabling asynchronous execution without pre-bridging. This innovative approach eliminates vulnerabilities associated with traditional blockchain bridges, offering a safer solution for users. OneBalance's efforts align with addressing security concerns in the crypto space, exemplified by the $600 million theft from Axie Infinity's Ronin Bridge in 2022. Read more AI-generated news on: https://app.chaingpt.org/news

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