OneBalance, a cutting-edge developer platform aimed at simplifying the fragmented user experience in the cryptocurrency ecosystem, has successfully raised $20 million in a Series A funding round.

Major Backers and Industry Support

The funding round was led by cyber•Fund and Blockchain Capital, with additional participation from Bybit’s Mirana Ventures and L2IV. This follows a $5 million angel round in 2024, which saw investments from Consensys, Wintermute, and other prominent figures in the crypto space. The company was founded by Stephane Gosselin and Daniel Worsley, core contributors to Flashbots, alongside ex-Coinbase engineer Ankit Chiplunkar.

Addressing Crypto’s Usability Challenges

OneBalance aims to resolve a significant issue in the cryptocurrency space: the complexity of interacting across multiple blockchains. Traditionally, users must juggle various wallets, bridges, and gas fees when transacting across different chains. This fragmented experience often deters newcomers and complicates processes for seasoned users.

Simplified Interactions with Resource Locks

To tackle these challenges, OneBalance has introduced its innovative Toolkit powered by “Resource Locks.” This technology allows developers to create applications that enable seamless cross-chain operations with one-click actions. By abstracting the complexity of blockchain interactions, the platform offers a more intuitive experience for users.

“We’ve rethought blockchain development from the node up,” said CEO Stephane Gosselin. “Our goal is to maximize value for users while eliminating the need for retail extraction.”

Seamless Functionality Without Blockchain Expertise

OneBalance provides developers and fintechs the tools to offer seamless interactions — such as sending, swapping, or earning yield — without requiring users to understand the underlying blockchain or manage bridging and gas fees. This approach appeals to both cryptocurrency beginners and those with intermediate knowledge.

Faster Transactions with Parallel Execution

The core innovation of Resource Locks optimizes traditional cross-chain methods by enabling parallel execution rather than sequential confirmations. This results in transactions that are up to 40% faster while simplifying the complex processes for developers and end users alike.

Expanding Network Support

OneBalance has already demonstrated its capabilities with native Bitcoin-to-EVM swaps and plans to extend support to Solana and other blockchain networks in the near future. During its closed beta testing phase, the Toolkit was successfully trialed with early partners, including DSX, Vooi, Spritz Finance, and Nuvolari.

Unifying Fragmented Userbases

Vasiliy Shapovalov of cyber•Fund highlighted the platform’s potential to unify fragmented userbases and liquidity across different blockchains:

“OneBalance isn’t just fixing user experience—it’s amplifying crypto’s network effects.”

Abstracting Balances and Simplifying Fees

OneBalance’s approach revolves around abstracting user balances across multiple chains into a single, unified “spendable” balance. This eliminates the need for users to hold native gas tokens, as transaction fees are automatically paid using the tokens being transacted. This feature significantly lowers the barrier to entry for new users while streamlining processes for experienced participants.

By addressing usability challenges and fostering a seamless cross-chain experience, OneBalance is well-positioned to become a cornerstone in the evolving cryptocurrency landscape. Its focus on simplifying blockchain interactions has the potential to attract more users and developers into the space.

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