Crypto Infra Startup Reservoir ensures $ 14 million to boost expansion

Reservoir, a cryptographic infrastructure startup that facilitates tokens trade throughout the industry, has raised $ 14 million in a series of financing of series A.

Union Square Ventures led the financing round, reservoir announced February 5.

According to the platform, capital injection will support its goal of bringing tokens trade to each blockchain network.

As a cryptography startup, the reservoir infrastructure offer allows non -fungible tokens integrated into decentralized applications. Coinbase, Metamask, Magic Eden and Zora are among the cryptographic platforms that have integrated their services. However, the startup aims to expand its reach in the broader ecosystem.

The expansion efforts of the reservoir have attracted the support of several risk capital companies. The round of series A saw the participation of Variant, Coinbase Ventures, Delphi Digital, Archetype and Square Peg Capital.

“We are moving towards a world with millions of tokens issued in thousands of chains. The mission of the reservoir is to allow a movement without problems among all these assets, to unlock new powerful use cases in finance and culture. We are excited to use this funds to enable universal liquidity and candle for any token in any chain. Instantly, “said Peter Watts, founder and executive director of Reservoir.

The reservoir infrastructure products suite includes relay, exchange of nft deposits and reservoirs. The relay facilitates the instant bridge, the tokens exchanges and the calls to bitcoin (btc), Solana (Sol) and Tron (TRX). This feature also admits more than 42 chains compatible with EVM. Users can also access the DEX and nft market functionalities.

Nick Grossman, a USV partner, highlighted the importance of reservoir expansion:

“As the Ochain ecosystem becomes increasingly complex, we need tools that make the builder and user experience simpler, faster and more happy. This is exactly what the reservoir team stands out as a whole of tools to unite, exchange and other actions in the chain, ”said Grossman.