Morph Announces Closing of a multimillion-dollar investment from Bitget

Bitget, a cryptocurrency trading platform, and Web3 have closed a multimillion-dollar investment in Morph, a Layer 2 consumer blockchain for value-driven dApps.

Bitget Managing Director Gracy Chen said: “Morph has a stellar team endowed with experience, a vibrant multicultural approach, and industry-leading strategic capabilities for fostering mass adoption. It has demonstrated tangible progress in its commitment to a unique vision of a consumer blockchain. With Bitget’s dedication to forging ties with exemplary Web3 entities, we’ve embraced Morph in a spirit of collaboration.”

With the clever combination of ZK and Optimistic roll-ups’ greatest characteristics, Morph’s roll-up technology lowers costs, expedites dispute resolution, and guarantees safe and adaptable transactions for dApps of all sizes. A decentralized sequencer network, which counters MEV dominance and ensures that customers can execute Layer 2 transactions quickly, cheaply, and scalable, is at the core of the ecosystem.

“We are extremely grateful for Bitget’s support,” said Morph Co-Founder and CEO Cecilia Hsueh. “The recent capital infusion showcases our incubator’s confidence in Morph’s UVP and sets the stage for the seed funding round. Our proactive financial strategy is crafted to tackle an aggressive roadmap and product development timeline to reform the Layer 2 landscape.”

Bitget’s investment represents the coming together of two firms with complementary goals for value-driven dApps, and it also puts them in a unique position to create a healthy ecosystem and hasten user adoption. With more than 20 million users on Bitget and 12 million on Bitget Wallet, Morph will have access to a variety of information and tactics from its new partner. Hsueh claims that Morph will also put into place the exchange’s native affiliate program, which has over 50 million followers and is designed to encourage both initial user acquisition and sustained engagement and investment.

Advertisement&nbsp &nbsp

Morph and Singapore-based cryptocurrency fund Foresight Ventures have also formed a strategic alliance. Foresight Ventures recently revealed that it has acquired the majority of shares in The Block, a prominent media organization. This is a more comprehensive strategic manoeuvre. In the following months, Morph anticipates complete expansion, encompassing its technological side, a broader ecosystem, marketing, community management, and more operational divisions. Additionally, the firm plans to launch its testnet beta in early January 2024, while its mainnet beta is anticipated to go live in Q2 of that same year.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://zycrypto.com/morph-announces-closing-of-a-multimillion-dollar-investment-from-bitget/