Five Bells, a startup founded by former NYDIG and Two Sigma team members, has successfully closed its seed funding round. The round was led by Ego Death Capital and included participation from Epoch VC, Timechain, and Fulgur Ventures. The company is focused on developing a "native Bitcoin DvP (Delivery versus Payment) settlement layer." Five Bells aims to mitigate counterparty risk, operational friction, and settlement costs for institutional large-value Bitcoin transactions by pre-locking settlement terms on the Bitcoin chain, securing BTC through a custody-like mechanism, and automating delivery upon confirmation of fiat wire transfers or stablecoin payments.

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