Blockchain startup Subzero Labs completes $20 million seed round funding, led by Pantera Capital

According to Fortune magazine, blockchain startup Subzero Labs has completed a seed round financing of $20 million, led by Pantera Capital, with backing from Variant, Coinbase Ventures, and Susquehanna's crypto division. The company is developing the Rialo blockchain for real-world scenarios, with plans to break through the limitations of current encryption technology primarily serving financial speculation. Co founder Adepoju previously worked as an engineer at Mysten Labs (involved in Sui blockchain development), and Rialo aims to provide non crypto developers with a native solution for integrating external data on the chain, such as FICO credit scores, without relying on oracle machines. The team currently has 20 members, and the financing includes equity and token subscription rights. The specific valuation has not been disclosed.