BlockBeats News, May 21st, Cryptofinance infrastructure Cycles announced the completion of a $6.4 million seed round financing, led by Blockchange Ventures, with participation from Coinbase Ventures, Compound VC, Primitive Ventures, among others. This funding round brings the total funding to $8.7 million. The new funds will support Cycles Prime and Cycles Pay to scale up, with Lynq and FalconX joining as key partners.

Cycles was founded by Ethan Buchman after spinning out from Informal Systems, aiming to alleviate the liquidity bottlenecks and settlement risks of digital assets. It achieves multi-party netting settlement through zero-knowledge proofs and a trusted execution environment, reducing counterparty risks and liquidity constraints.