Victoria, Seychelles, December 11th, 2023, Chainwire
Morph, a Layer 2 consumer blockchain for value-driven dApps, announced the closing of a multimillion-dollar investment from the Web3 and cryptocurrency trading platform Bitget.
“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,” said Bitget Managing Director Gracy Chen.
Morph’s roll-up tech intelligently combines the best features of Optimistic and ZK roll-ups to reduce cost barriers, accelerate dispute resolution, and ensure flexible and secure transactions for dApps of all sizes. At the heart of the ecosystem is a decentralized sequencer network eliminating central points of control, countering MEV dominance, and guaranteeing consumers scalable, inexpensive, and rapid Layer 2 transactions.
“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 symbolizes a convergence of shared visions for value-driven dApps, while the two organizations are uniquely positioned to build a thriving ecosystem and accelerate user adoption. Benefiting from the extensive user base of over 20 million on Bitget and 12 million on Bitget Wallet, Morph will be able to leverage its new partner’s wealth of knowledge and strategies. According to Hsueh, Morph will also implement the exchange’s native affiliate system, extending to a massive follower base of over 50 million, engineered to drive initial user acquisition and long-lasting participation and investment.
Morph has also forged a strategic partnership with Foresight Ventures, a Singapore-based crypto fund that recently announced its acquisition of a majority stake in the leading media group, The Block. This strategic move encompasses a broader expansion. Morph expects…