VerifiedX Secures $15M to Bolster Institutional Bitcoin Infrastructure

VerifiedX Foundation has launched a $15 million financing round to expand institutional infrastructure for Bitcoin-backed products. Cantor Fitzgerald is serving as its investment banking partner.

The project plans to use part of the capital to integrate with BitGo, a leading cryptocurrency custodian, and Base, a platform owned by Coinbase. This integration will enable institutional users to hold vBTC, a Bitcoin-collateralized token operating on the VerifiedX network, and vBTC.b, its counterpart for applications on the Base network.

VerifiedX also expects its first centralized exchange listing announcement within weeks, although no exchange has confirmed plans to support either asset. The project aims to establish lending programs that would allow customers to borrow against Bitcoin or lend assets for returns.