Cycles Raises $6.4M to Build the Open Clearing Network for On-Chain Finance
Summary
Cycles raised $6.4 million in a round led by Blockchange Ventures with participation from Coinbase Ventures, Compound VC, Primitive Ventures, and angels, bringing total funding to $8.7 million. The startup will use the capital to accelerate development and rollout of an open, privacy-preserving clearing network for crypto markets and stablecoin payments and to scale its first products. Cycles is launching Cycles Prime for institutional trading firms (with Lynq and FalconX as anchor partners) to net OTC obligations privately, reducing liquidity requirements and counterparty exposure without moving assets or requiring collateral. Spun out of Informal Systems and led by Cosmos co-founder Ethan Buchman, Cycles aims to become a unified clearing layer to improve capital efficiency and settlement in on-chain finance.
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