LayerBank, an On-Chain Money Market, Completes $2.3 Million Pre-Seed Funding Round

According to Chainwire, LayerBank has announced the completion of a $2.3 million Pre-Seed funding round. Investors in this round include Move Industries CEO Torab Torabi, Coin Bureau Chinese, DVchain, Taiko, Rootstock, as well as multiple angel investors and ecosystem contributors. The new funds will be used to advance the development and launch of its native token, ULAB, which is designed as the foundation for the platform's long-term value capture and incentive model. LayerBank plans to hold its Token Generation Event (TGE) on the Movement Network. LayerBank is a universal liquidity and on-chain money market that currently supports over 150 markets across more than 17 chains. It aims to provide lending and yield strategies through a unified chain abstraction experience.