Bitcoin native exchange Flashnet completes $4.5 million seed round funding, led by Abstract

According to the official announcement of Flashnet, it has completed a seed round financing of $4.5 million, led by Abstract and participated by UTXO, Soma Capital, HF0, Chapter One and other institutions. Flashnet is committed to building a permissionless, unmanaged native Bitcoin exchange, eliminating reliance on intermediaries, fully on chain BTC trading to reduce transaction costs, eliminate counterparty risk, and provide 24/7 permissionless access. In addition, Flashnet is collaborating with Brale to launch USDB, the first Bitcoin stablecoin, and partnering with Privy to optimize user experience. The platform plans to announce more details in the coming weeks and prepare for official launch.