New Breakthrough in Bitcoin Smart Contracts! Arch Labs Secures $13 Million Funding, Valuation at $200 Million

Bitcoin DeFi developer Arch Labs has completed a $13 million funding round led by Pantera Capital, with the company valued at $200 million. The funds will be used to develop 'ArchVM', aimed at enabling native support for smart contracts on Bitcoin without relying on layer two networks.

ArchVM utilizes off-chain computing technology to achieve Turing-complete smart contracts on the Bitcoin base layer, promising transaction speeds comparable to Solana. Unlike current layer two solutions that rely on BitVM, Arch aims to run decentralized applications directly on Bitcoin, avoiding cross-chain asset risks.

The launch of BitVM last October has spurred the development of Bitcoin smart contracts, and Arch Labs' goal is to further simplify this process, allowing developers to build applications in the Bitcoin ecosystem more efficiently.