Crypto financial infrastructure Cycles completes $6.4 million seed round with participation from an exchange and others

Crypto financial infrastructure Cycles announced the completion of a $6.4 million seed round, led by Blockchange Ventures, with participation from an exchange, Compound VC, Primitive Ventures, and others. With this round, the total funding has reached $8.7 million. The company aims to build a private clearing network for the crypto market and seeks to improve capital efficiency through a "clearing network" mechanism. By leveraging zero-knowledge proofs and trusted execution environments to achieve multi-party net settlement, it aims to reduce counterparty risk and minimize liquidity usage.