Morph and Bitget Announce Multimillion-Dollar Investment
Victoria, Seychelles, December 11th, 2023 – Chainwire
Morph, a Layer 2 consumer blockchain for value-driven dApps, recently announced the closing of a multimillion-dollar investment from the Web3 and cryptocurrency trading platform Bitget. Bitget Managing Director Gracy Chen expressed his confidence in Morph’s team, vision, and unique approach to fostering mass adoption.
Morph’s roll-up technology combines features of Optimistic and ZK roll-ups to make transactions more secure, flexible, and cost-effective. At the core of Morph’s ecosystem is a decentralized sequencer network offering scalability, affordability, and rapid Layer 2 transactions.
Morph Co-Founder and CEO Cecilia Hsueh expressed her gratitude for the investment, stating that it “sets the stage for the seed funding round” and will help Morph tackle its ambitious roadmap and product development timeline for Layer 2 reform.
The strategic partnership between Bitget and Morph promises to build a thriving ecosystem for value-driven dApps and accelerate user adoption. Bitget’s extensive user base of 20 million on the exchange and 12 million on the Bitget Wallet, as well as its native affiliate system with reach of 50 million, will help drive initial user acquisition and long-term investment.
Morph has also formed a strategic partnership with Foresight Ventures, a Singapore-based crypto fund, for comprehensive growth, including technical advancement, larger ecosystem, marketing, community management, and more. Testnet Beta is scheduled to launch in early January 2024, with mainnet beta expected to go live in Q2 2024.
About Bitget
Bitget is the world’s leading cryptocurrency exchange and web3 company, established in 2018 and serving over 20 million users in 100+ countries and regions. Bitget is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Its multi-chain crypto wallet, Bitget Wallet, offers an array of Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget’s collaborations with credible partners, such as Lionel Messi and PGL, inspire individuals to embrace crypto.
About Morph
Morph is a transparent, community-driven Layer-2 solution. It combines features of OP and ZK rollups to provide scalability and security for an ecosystem of consumer-focused, value-driven DApps. Morph’s hallmark features, such as the Decentralized Sequencer Network, Responsive Validity Proof system, and modular design, deliver efficient and flexible scaling while preserving the initial security, availability, and compatibility of the Ethereum network.
About Foresight Ventures
Foresight Ventures is a crypto fund supporting Web3 projects that embody decentralization and mainstream adoption. With a global industry network, Foresight Ventures provides incubation, investment, and advisory throughout the project life cycle for multiple funds: a VC fund, an actively managed secondary fund, a multi-strategy FOF, and a private market secondary fund.
Contact
Rachel Cheung
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