DNA Fund commits to $5,000,000 USD raise for PACT SWAP, as the Cross-Chain DEX launches in Live Production
The post DNA Fund commits to $5,000,000 USD raise for PACT SWAP, as the Cross-Chain DEX launches in Live Production appeared on BitcoinEthereumNews.com.
Hong Kong, May 29, 2025 — DNA Fund has committed $5,000,000 to accelerate the development of the fourth-ever cross-chain decentralized exchange supporting native Bitcoin in live production. This includes a direct investment of $500,000 from its Helix Fund to turbocharge progress. PACT SWAP Labs has been established as a core contributor behind the DEX, PACT SWAP, and welcomes blockchain heavyweights Brock Pierce, Scott Walker, and Toby Gilbert as co-founders, joining the original founding team of the protocol. PACT SWAP is a next-generation cross-chain DEX that enables trading of native Bitcoin, TRON, and other assets across incompatible chains – without bridges, wrapped tokens, or external validators. Built on Coinweb’s unique PACT framework for consensusless interoperability, it delivers fast, secure, and cost-efficient swaps with composability and scalability at its core – at a fraction of the cost of its competitors. The $5,000,000 commitment from DNA Fund marks a big milestone in PACT SWAP’s growth. Known for backing early-stage Web3 leaders – including Mastercoin, Hedera, and EOS – DNA Fund will support PACT SWAP Labs with ecosystem development, strategic partnerships, and a global go-to-market rollout. Beyond capital, DNA brings deep operational support and a proven track record in scaling disruptive technologies. The new co-founders of PACT SWAP Labs bring extensive experience to the project: Brock Pierce — Original co-founder of Tether, Block.one, Blockchain Capital, and more. Scott Walker — Co-founder of DNA Fund, Casper Labs and has invested into over 50 projects including HBAR, FRAX, Coinbase and many other unicorns. Toby Gilbert — Co-founder of OnRamp and Coinweb. Together, their combined decades of impact across crypto, venture, and infrastructure significantly strengthen PACT SWAP’s ability to drive adoption and reshape cross-chain digital asset trading. “PACT SWAP represents a leap forward for decentralized trading. We’re proud to back the project as they bring this vision to…
Filed under: News - @ May 31, 2025 5:12 am