Blockchain startup Subzero Labs completes $20 million seed round led by Pantera Capital

PANews reported on August 2nd that, according to Fortune magazine, blockchain startup Subzero Labs has secured $20 million in seed funding led by Pantera Capital, with participation from Variant, Coinbase Ventures, and Susquehanna's crypto arm. The company is developing the Rialo blockchain, a real-world blockchain aimed at breaking through the current limitations of crypto technology, which primarily serves financial speculation. Co-founder Ade Adepoju, formerly an engineer at Mysten Labs (where he participated in the development of the Sui blockchain), aims to provide non-crypto developers with a native solution for integrating external data (such as FICO credit scores) on-chain, without relying on oracles. The team currently has 20 members, and the funding includes equity and token subscription rights. The specific valuation was not disclosed.