LBank Labs has announced its strategic investment in XION, an innovative blockchain platform. According to its press release, the investment aligns perfectly with its “goal of fostering blockchain technologies that have the potential to revolutionize the mainstream.”
“We’re excited to support XION in its mission to make blockchain technology accessible to the mainstream,”
said Nathalie Yang, Principal at LBank Labs.
“We believe that XION’s innovative approach to simplifying user interactions and removing technical barriers will be pivotal in driving the next wave of Web3 adoption.”
The XION platform is designed to overcome common barriers to blockchain adoption, such as complex onboarding processes, unfamiliar user interactions, transaction friction, and technical jargon. The platform distinguishes itself by integrating USDC—a fully reserved digital dollar—as its primary transactional currency, ensuring predictable pricing for consumers across all interactions within its ecosystem.
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A standout feature of XION is its “Meta Accounts”, which eliminate the need for direct private wallet key management while remaining fully non-custodial. Users can easily onboard to apps built on XION using familiar methods like email or biometrics. These accounts support seamless cross-device usage, key rotation, multi-factor authentication, and account recovery.
During its test phase, XION has already shown significant adoption, with over 1.3 million Meta Accounts created and over 15 million transactions processed. The platform currently supports an ecosystem of over 150 projects.
LBank Labs has a track record of strategic investments in the blockchain and cryptocurrency space. Their portfolio includes Entangle, Puffer Finance, LunarCrush, Navi Protocol, Exabits, and Hivello projects. The financial institution reportedly has over $100 million in assets under management (AUM).
LBank’s investment is part of XION’s $25 million Series A funding round, which attracted participation from prominent investors, including Animoca Brands, Laser Digital (Nomura), Multicoin, Arrington Capital, Draper Dragon, Sfermion, and GoldenTree.
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