PANews reported on August 2nd that according to Fortune magazine, blockchain startup Subzero Labs has completed a $20 million seed round, led by Pantera Capital, with participation from Variant, Coinbase Ventures, and Susquehanna's crypto division. The company is developing the Rialo blockchain for real-world scenarios, aiming to break through the current limitations of crypto technology primarily serving financial speculation.
Co-founder Ade Adepoju, a former Mysten Labs engineer (involved in Sui blockchain development), aims to provide native on-chain solutions for non-crypto developers to integrate external data (such as FICO credit scores) without relying on oracles. The team currently has 20 members, with funding including equity and token subscription rights, and the specific valuation has not been disclosed.
