Venture capital firm a16z, which manages over $45 billion in assets, continues its strong support for LayerZero, which aims to take on the role of a layer that connects all blockchains of its crypto subsidiary, a16z crypto, (ZRO).
The company, which previously invested a total of $255 million in the project in series A+ and B investment rounds, has now announced that it has acquired a $55 million ZRO. These purchased tokens cannot be sold for 3 years. “Our global financial system is undergoing a transformation, and it’s really pleasing to see that this protocol enables many new business models and complex workflows to move on-chain,” said Ali Yahya, an executive at a16z.
LayerZero positions itself as a “base layer” in the interoperability (interoperability) space, likening its function to the TCP/IP protocol on the internet. It allows developers to build applications that run on multiple chains.
The protocol currently supports more than 125 blockchains and has so far reached over $75 billion in transaction volume with more than 140 million messages.
Published: April 18, 2025 00:00Last Updated: April 18, 2025 00:04
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