The encrypted financial infrastructure Cycles has completed a $6.4 million seed round financing, with participation from Coinbase Ventures and others

Crypto financial infrastructure Cycles announced the completion of a $6.4 million seed round financing, led by Blockchange Ventures, with participation from Coinbase Ventures, Compound VC, Primitive Ventures, and others. After this round of financing, the total amount raised has reached $8.7 million.

The company aims to build a private clearing network for the crypto market and seeks to enhance capital utilization through a "clearing network" mechanism, achieving multi-party net settlement through zero-knowledge proofs and trusted execution environments, thereby reducing counterparty risk and minimizing liquidity consumption.