The Bitcoin native application platform Arch Network has completed a $7 million seed round financing, led by Multicoin Capital.

Bitcoin native application platform Arch Network has completed a $7 million seed round financing, led by Multicoin Capital, with participation from OKX Ventures, Big Brain Holdings, Portal Ventures, CMS Holdings, and Tangent.

According to the Web3 asset data platform RootData, Arch introduces smart contract functionality directly into Bitcoin through an innovative architecture that utilizes the Rust-based zero-knowledge virtual machine ArchVM, paired with a decentralized validator network.