VerifiedX Raises $15 Million for Institutional Bitcoin Distribution

VerifiedX has launched a $15 million financing round to fund its institutional Bitcoin distribution. The first institutional investors have already invested in the fundraising effort, according to VerifiedX's Foundation.

Cantor Fitzgerald is serving as VerifiedX's investment banking partner for this financing. Initial capital will be used to expand custody relationships with partners, including BitGo, a digital-asset custodian listed on the New York Stock Exchange. BitGo will hold vBTC (VerifiedX's Bitcoin-collateralized token) and vBTC.b (its counterpart on Base, Coinbase's Ethereum layer-2 network).

The round also supports listings of vBTC and VFX, VerifiedX's native token, with tier-one centralized exchanges expected to list them within weeks. The capital will fund borrow-and-lend programs that let a holder borrow against Bitcoin or lend it out for a return without sacrificing ownership or locking redemption rights.