- StakeStone has secured a multimillion-dollar funding.
- Polychain Capital led the company’s latest funding round.
- The round attracted participation from Binance Labs, OKX Ventures, and other notable industry names.
The company said that the liquidity infrastructure platform StakeStone has secured multimillion-dollar funding in a round led by Polychain Capital.
Founded in 2023, StakeStone leverages STONE, a yield-bearing ETH token, to provide Native staking yields and liquidity to Layer 2 networks in a decentralized manner. The company’s latest funding round came seven months after Binance Labs supported it with an undisclosed investment amount.
StakeStone Secures $22 Million Funding
In a press release on November 11, StakeStone said it had secured $22 million in funding from the Polychain Capital-led investment round to accelerate its growth amid plans to expand its product offerings and strengthen its presence in key markets.
Sponsored
The fundraising included strategic investments from Binance Labs and OKX Ventures, as well as a seed round led by SevenX, with participation from Amber Group, HashKey Capital, Quantstamp, Bankless Ventures, DAO5, Coinsummer, Nomad Capital, Symbolic Capital, and others.
StakeStone reiterated its mission to build the first “stable, yield-bearing liquid ETH” backed by an adaptive staking network that supports risk-free consensus layers with native assets.
In addition to the fundraiser, StakeStone said it was launching its Bitcoin products SBTC and STONEBTC to enhance the utility of native BTC within EVM ecosystems and other Layer 1 and Layer 2 networks.
StakeStone co-founder Charles K welcomed the funding, noting that participation from Binance Labs and OKX Ventures was crucial in providing the company with the support and expertise needed to foster ongoing innovation and the global adoption of its products.
“At the same time, we are committed to bringing DeFi into the real world through this funding. Together with real-time high-performance blockchain networks, we aim to onboard the next billion users through RWAFi and PayFi, propelling the crypto industry into the era of super applications.” Charles K stated.
Per the statement, StakeStone’s products will benefit decentralized finance (DeFi) protocols like Berachain, Movement Labs, AAVE DAO, Monad, Plume Network, and Pendle.
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