Tether leads $5.2M seed round for Bitcoin startup Ark Labs

Bitcoin-based programmable financial infrastructure startup Ark Labs has raised $5.2 million in a seed funding round led by Tether, The Block reported. The startup's core product is Arkade, a Layer 2 platform that enables the off-chain issuance, transfer, and settlement of stablecoins without altering Bitcoin's consensus rules. Tether CEO Paolo Ardoino said expanding USDT's accessibility on the Bitcoin network is a top priority, prompting the company's direct support.