Glacis Labs raises $6.8M seed to expand ZeroDelta clearing platform
DeFi & Yields ·
The startup will use the funding, led by Lightspeed Faction, to grow a multichain settlement system for stablecoins, tokenized securities and foreign exchange.
Glacis Labs has closed a $6.8M seed round led by Lightspeed Faction, with participation from Franklin Templeton, Coinbase Ventures and Protein Capital, according to The Block. The capital will go toward expanding ZeroDelta, described as an institutional multichain clearing platform built to handle settlement across stablecoins, real-world assets, and FX.
Glacis Labs is positioned as a crypto clearinghouse, a category distinct from exchanges or custodians, focused instead on the mechanics of settling trades across multiple blockchains. ZeroDelta is the company's flagship product for this purpose, and the new funding is earmarked specifically to push the platform beyond stablecoin clearing into tokenized securities and FX settlement, broadening its intended use base among institutional counterparties.
The raise lands amid a wider push to move foreign-exchange activity onchain. Stablecoins have become the connective layer between traditional currency markets and blockchain rails, with the total stablecoin market reaching roughly $322 billion, a scale now compared to the reserves of dozens of individual nations, per Leviathan's FX explainer. That backdrop helps explain why clearing infrastructure spanning stablecoins, RWAs, and FX is drawing institutional seed capital rather than remaining a niche crypto-native concern.
The involvement of both Coinbase Ventures and Franklin Templeton signals interest from firms straddling crypto-native and traditional asset-management worlds, though the exact terms of their participation and any board or advisory roles tied to the round have not been disclosed. Details of the round's structure, including valuation, are also available via round data referencing Glacis LabsMultichain%20).
What remains unclear is the pace and sequencing of ZeroDelta's expansion into tokenized securities and FX clearing, and which institutional partners, if any, will pilot those use cases first. Also unresolved is how ZeroDelta's clearing model will interoperate with other onchain FX infrastructure now emerging, including native settlement chains, as the broader convergence of crypto and foreign exchange continues to take shape.