Glacis Labs raised $6.8 million in seed funding after fundraising began late last year and closed in March. The round was led by Lightspeed Faction, with participation from Franklin Templeton, Coinbase Ventures, A.GAIN, Protein Capital, and Techni Ventures. The funding supports the expansion of ZeroDelta, the startup's multichain crypto clearing platform, beyond stablecoins into tokenized securities, real-world assets, and foreign exchange. The round was structured as equity with token warrants, according to co-founder and CEO Jacob Blish. The financing comes as institutional crypto infrastructure is moving beyond trading access and custody toward clearing, settlement, and liquidity routing.
Glacis Labs Launches ZeroDelta Multichain Clearing Platform
Founded in January 2024, Glacis built ZeroDelta as a multichain clearing platform that matches, nets, and settles digital asset transfers across blockchains. The platform is built on Glacis Core, the startup's cross-chain messaging layer, and AirLift, its token transport layer.
ZeroDelta currently supports Circle's USDC, Tether's USDT, and Ethena's USDe. According to Blish, the company is starting with stablecoins because that is where the market is. The core function is to reduce unnecessary movement of assets across chains by matching flows, netting obligations, and settling only the remaining balance onchain.
Lightspeed Faction Leads Seed Round With Strategic Investors
As part of the deal, Lightspeed Faction received a non-voting board observer seat. Glacis did not disclose its valuation. The round included participation from Franklin Templeton, Coinbase Ventures, A.GAIN, Protein Capital, and Techni Ventures.
The funding was raised as a single tranche after fundraising began late last year and closed in March. The round was structured as equity with token warrants.
ZeroDelta Processes $1 Billion in Transaction Volume
Glacis said ZeroDelta has cleared more than $1 billion in transaction volume and is operating at a $1.5 billion annualized run rate. Roughly 90% of that activity is stablecoins, according to Blish.
The startup generates revenue by charging fees on transaction volume cleared across its network. Glacis currently has 10 employees working remotely, mainly across New York and Europe.
Glacis Labs Targets Institutional Customers Across Three Segments
ZeroDelta is focused entirely on institutional customers. Its users fall into three groups: market makers and dealers that frequently rebalance assets across blockchains, aggregators and solver networks seeking lower-cost settlement routes, and stablecoin issuers and tokenization platforms that need around-the-clock liquidity.
Blish said ZeroDelta and EDX Markets share the same basic premise: matching transactions before settlement can reduce costs and lower counterparty risk. The difference is where that clearing takes place. EDX clears obligations inside a single trading venue, while ZeroDelta continuously clears asset flows across multiple blockchains and venues before settling the remaining balance onchain.
According to Blish, the company's advantage is the combination of native mint/burn transport with no bridge risk, a matching engine that clears matched flow at par before anything moves, and neutrality, meaning no first-party desk trading against the people who route through the platform.
FAQ
What did Glacis Labs raise in seed funding?
Glacis Labs raised $6.8 million in seed funding led by Lightspeed Faction, with participation from Franklin Templeton, Coinbase Ventures, A.GAIN, Protein Capital, and Techni Ventures. The round was structured as equity with token warrants and closed in March.
What assets does ZeroDelta currently support?
ZeroDelta currently supports Circle's USDC, Tether's USDT, and Ethena's USDe. Roughly 90% of the platform's transaction activity is stablecoins, according to co-founder and CEO Jacob Blish.
How much transaction volume has ZeroDelta processed?
Glacis said ZeroDelta has cleared more than $1 billion in transaction volume and is operating at a $1.5 billion annualized run rate. The startup generates revenue by charging fees on transaction volume cleared across its network.
