Function Completes $10.00 Million Seed Round, Led by Galaxy Digital

Crypto infrastructure company Function (formerly Ignition) has announced the completion of a $10.00 million seed round led by Galaxy Digital (GLXY), with participation from Antalpha (ANTA) and Mantle. Function's flagship product, FBTC, is a fully reserved, composable form of Bitcoin token that has currently accumulated $1.50 billion in total value locked (TVL). The company hopes to provide access channels for institutional and corporate treasuries through FBTC, enabling them to effectively deploy Bitcoin while maintaining full custody and 1:1 asset backing. [CoinDesk]