VerifiedX Launches $15 Million Financing Round to Deploy Institutional Bitcoin Infrastructure

According to Bitcoin Magazine, the VerifiedX Foundation announced a $15 million financing round, with initial institutional investors already participating and Cantor Fitzgerald serving as the investment banking partner. The funding is allocated to expand institutional Bitcoin distribution, custody relationships, exchange listings, and borrow-and-lend programs.

Part of the capital will fund custody arrangements with BitGo to hold vBTC and its counterpart on Base, vBTC.b. Additionally, tier-one centralized exchanges will list vBTC and the native token VFX, with the first announcement expected in weeks. The round also supports lending facilities allowing holders to borrow against or lend out Bitcoin without relinquishing ownership.

Brian May of the VerifiedX Foundation noted that vBTC aims to allow institutions to natively turn Bitcoin into productive financial capital. Unlike traditional wrapped Bitcoin tokens that require handing assets to a custodian or small group of signers, vBTC generates a unique native Bitcoin address inside each token while the Bitcoin remains on its own ledger. Threshold signatures across VerifiedX validators authorize deposits and withdrawals, and holders can redeem to native Bitcoin at any time.