Crypto infra startup Reservoir secures $14m to drive expansion

Reservoir, an cryptographic infrastructure startup that facilitates the token trade across industry, has raised $ 14 million in a series of funding from the A series.

Union Square Ventures led the funding round, tank announcement February 5.

According to the platform, the capital injection will support its objective of providing token exchanges to each blockchain network.

As an crypto startup, the reservoir infrastructure offer allows you to negotiate with non -butt bowls on decentralized applications. Coinbase, Metamask, Magic Eden and Zora are among the cryptographic platforms that have integrated its services. However, the startup aims to extend its scope through the wider ecosystem.

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

“We head to a world with millions of tokens issued in thousands of channels. The mission of reservoir is to allow a transparent movement between all these assets, to unlock new powerful uses through finance and culture. We are delighted to use this financing to allow universal liquidity and onchain for any token on any channel. Instantly, “said Peter Watts, founder and chief executive officer of Reservoir.

The suite of tank infrastructure products includes the relay, the reservoir and the NFT tank. The relay facilitates instant bristing, chip exchanges and Bitcoin calls (BTC), Solana (GROUND) and Tron (Trx). This function also supports more than 42 EVM compatible channels. Users can also access the Dex and NFT market features.

Nick Grossman, associated with the USV, stressed the importance of the expansion of reservoir:

“While onchain’s ecosystem is becoming more and more complex, we need tools that make the manufacturer and the user experience simpler, faster and happier. This is exactly what the team of tanks excels in its suite of bridging tools, exchange and other onchain actions, ”noted Grossman.