OneBalance Secures $20 Million to Enhance Crypto Transactions for Developers
Jun 11, 2025
In a significant step toward simplifying the cryptocurrency landscape, OneBalance, a developer-focused platform for multichain applications, has announced the successful completion of a $20 million Series A funding round. The investment, aimed at creating a seamless user experience (UX) for developers and financial technology (fintech) companies, was led by notable firms including cyber•Fund and Blockchain Capital, alongside contributions from Bybit’s Mirana Ventures and L2IV.
Addressing Fragmented User Experience
Founded by a former engineer from Coinbase along with core contributors from Flashbots, OneBalance’s primary mission is to tackle the current fragmentation in the crypto user experience. The company plans to achieve this through its innovative Toolkit technology, which allows users to seamlessly transfer, swap, or earn yield with a single click. This solution aims to eliminate the complexities associated with navigating various underlying networks, bridging funds, and managing gas fees.
“Developers that integrate via the Toolkit can earn revenue directly through configurable transaction fees,” stated Daniel Worsley, co-founder and chief operating officer of OneBalance. He emphasized that this approach not only simplifies the transaction process for users but also enhances the overall efficiency, promising “faster execution, higher conversion, and better capital efficiency.”
Toolkit Success and Future Expansion
OneBalance’s Toolkit has already made strides in the industry, demonstrating successful Bitcoin-to-Ethereum Virtual Machine (EVM) swaps. The company has plans to extend support to other major networks, including Solana, which is expected to roll out in the coming weeks. This expansion is part of OneBalance’s broader strategy to streamline crosschain transactions for developers looking to innovate in the multichain ecosystem.
Innovative Features for Security and Efficiency
In addition to its Toolkit, OneBalance has introduced a new feature called Resource Locks, aimed at enhancing the safety and efficiency of crosschain transactions. This feature, which debuted in early 2024, allows for asynchronous execution across multiple blockchains while preventing double-spending by utilizing co-signing and sequencing for user transactions.
“Resource Lock allows users to lock funds across chains with a single cryptographic intent — no pre-bridging required,” Worsley explained. He noted that this feature, coupled with balance aggregation, empowers users to efficiently manage funds that are distributed across various chains, eliminating the need to bridge before taking action.
Distinguished from traditional blockchain bridges, which often pool assets or maintain central vaults vulnerable to hacks, OneBalance’s Resource Locks provide a more secure alternative for facilitating crosschain transactions. This comes in light of past incidents in the industry, such as the $600 million theft from Axie Infinity’s Ronin Bridge in 2022, underscoring the necessity for enhanced security measures.
Conclusion
With the fresh capital investment and an innovative approach to unifying the cryptocurrency experience for developers, OneBalance is poised to play a pivotal role in the evolution of multichain applications. By providing tools that simplify transactions and enhance security, the company aims to foster greater adoption and efficiency within the ever-evolving crypto ecosystem.
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