OneBalance Secures $20M Series A to Revolutionize Crypto Development Experience

Multichain developer platform OneBalance has raised $20 million in a Series A funding round aimed at streamlining crypto interactions for developers and fintech companies.

The round was led by cyber•Fund and Blockchain Capital, with additional backing from Bybit’s Mirana Ventures and L2IV.

Founded by a former Coinbase engineer alongside core members from Flashbots, OneBalance is tackling one of crypto’s most persistent challenges: the fragmented user experience across blockchain ecosystems. Their flagship solution, the Toolkit, enables developers to integrate simplified crypto workflows—allowing users to perform actions like transferring, swapping, or earning yield across chains with just one click.

According to Daniel Worsley, co-founder and COO, the Toolkit empowers developers to generate revenue through customizable transaction fees, which can include gas fees. These are bundled into a single, abstracted payment—removing friction for end users.

“The result is faster execution, increased conversion rates, and more efficient capital use,” Worsley explained in a statement to Cointelegraph.

Currently, the Toolkit supports native swaps from Bitcoin to Ethereum Virtual Machine (EVM) networks, with upcoming integrations for Solana and other major blockchains.

Crosschain Security Enhanced with Resource Locks

In early 2024, OneBalance rolled out its Resource Lock feature, designed to improve the safety of crosschain operations. Unlike traditional bridging systems, which often rely on pooled assets and smart contract vaults vulnerable to attacks, Resource Locks execute transactions asynchronously while ensuring security and order.

“Users can commit funds across chains through a single cryptographic intent—eliminating the need for manual bridging beforehand,” Worsley said. By aggregating balances across multiple networks, users gain seamless access to liquidity without pre-bridging steps.

This innovation addresses security flaws that have plagued the industry. In 2022, over $600 million was stolen from Axie Infinity’s Ronin Bridge due to a compromised multisig setup. OneBalance’s approach, by contrast, avoids centralized vaults and reduces the attack surface for hackers.

With this fresh capital, OneBalance plans to expand support for additional blockchains, refine its developer tools, and continue enhancing crosschain UX through its Toolkit and Resource Lock technologies.