Arch Labs, the team behind the Bitcoin-native application platform Arch, has raised $7 million in a seed funding round.

Multicoin Capital led the round in a rare Bitcoin deal for the venture capital firm. Other investors in the round included Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings, and Tangent, Arch said Thursday.

Arch began raising for the round in March and closed it quickly in April due to an "extraordinary" amount of investor interest, Matt Mudano, co-founder of Arch, told The Block. The round was structured as a simple agreement for future equity (SAFE) with token warrants, Mudano said, declining to comment on the valuation.

What is Arch?

Arch claims to be the first Bitcoin-native application platform, bringing "bridgeless" trading directly to the Bitcoin …