Deep Tide TechFlow news, on July 15, according to CoinDesk, crypto infrastructure company Function completed a $10 million seed round financing led by Galaxy Digital, with participation from Antalpha and Mantle.
Function's flagship product FBTC is a fully reserved and composable representation of Bitcoin, currently locking a total value of 1.5 billion dollars. This product allows institutions and corporate treasuries to achieve productive deployment of Bitcoin while maintaining complete custodial control over their crypto assets.
Function CEO Thomas Chen stated: "By 2026, viewing Bitcoin as a passive treasury asset may no longer be sufficient. The new standard will be actively earning yields." With Galaxy Digital's involvement, Function has gained a strong partner to expand the institutional coverage of FBTC. Galaxy's participation includes providing liquidity, governance and risk framework design, as well as strategic oversight.
