PANews reported on May 10 that Arch, a Bitcoin-based application platform, has completed a round of fundraising led by Multicoin Capital. Other investors in this round of financing include Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings and Tangent. The financing aims to promote the further development of the Arch platform, which will introduce "bridgeless" transactions directly into the Bitcoin blockchain. It is committed to expanding the functionality of Bitcoin so that it is not just a digital currency, but an underlying technology that can support a variety of applications.