Tether Backs Ark Labs in Effort to Bolster Bitcoin Payments

Tether has invested in Ark Labs as part of a $5.2 million seed round to build programmable payment infrastructure on the Bitcoin network.

The funding, announced Thursday, also included participation from Anchorage Digital, Ralph Ho, PayPal's former vice president and treasurer, and several venture capital firms.

Total institutional funding for Ark Labs has now reached over $7.7 million.

Arkade, developed by Ark Labs, is an execution layer built on top of Bitcoin that enables faster transactions and supports the development of financial applications on the network.