Overview
- Ark Labs closed a $5.2 million seed round led or backed by Tether with participation from Anchorage Digital and several venture firms and angels.
- The raise brings Ark Labs’ total institutional backing to more than $7.7 million, following earlier support from Draper Associates, Fulgur Ventures and Axiom Capital.
- Arkade now supports stablecoins and digital asset representations, targeting payment authorizations, merchant holds, escrow and other programmable finance functions.
- The platform executes activity off-chain for scalability and privacy while giving users pre-signed transactions to recover funds on Bitcoin if a server goes offline.
- Tether signaled interest in expanding stablecoin access on Bitcoin but has not committed to issuing USDT on Arkade, as Ark Labs focuses on developer tooling and partner onboarding.