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About Offchain Labs
Industries
Fintech
Crypto & Web3
Company Size
51-200
Company Stage
Series B
Total Funding
$139.8M
Headquarters
Princeton, New Jersey
Founded
2018
Overview
Offchain Labs develops scaling solutions for the Ethereum blockchain, with its main product being Arbitrum. Arbitrum enhances Ethereum's transaction speed and reduces costs by using rollup technology, which combines multiple transactions before sending them to the main blockchain. This is particularly important as Ethereum can become slow and expensive during high usage periods. The company serves a variety of clients, including developers and businesses in the blockchain and cryptocurrency sectors, who benefit from more efficient transaction processing. Offchain Labs differentiates itself by focusing on Layer 2 solutions that improve Ethereum's performance, charging fees for the use of their technology, which are typically lower than those on the main Ethereum network. The goal of Offchain Labs is to make Ethereum more accessible and efficient for all users.
Simplify's Take
What believers are saying
- Increased adoption of Arbitrum by Tether and Lotte Group boosts Offchain Labs' credibility.
- Ira Auerbach's leadership in Tandem could enhance blockchain adoption and innovation.
- Arbitrum's role in Lotte Caliverse taps into the growing metaverse and Web3 markets.
What critics are saying
- Competition from Kraken's Ink and Bluwhale's Oceanum threatens Offchain Labs' market share.
- Strategic shifts under Ira Auerbach may not align with current market demands.
- Reliance on partnerships like Lotte Group poses risks if expectations aren't met.
What makes Offchain Labs unique
- Offchain Labs' Arbitrum offers faster, cheaper Ethereum transactions using rollup technology.
- Arbitrum's integration with Tether and Lotte Group showcases its scalability and versatility.
- Offchain Labs' Tandem division supports innovative blockchain projects with strategic expertise.
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Funding
Total Funding
$139.8M
Above
Industry Average
Funded Over
3 Rounds
Lightspeed Venture PartnersIndustry standards
Benefits
Remote Work Options
Conference Attendance Budget
Health Insurance
Dental Insurance
Vision Insurance
401(k) Retirement Plan
401(k) Company Match
Home Office Stipend
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 0%Furthermore, Robinhood is working with Arbitrum, another Ethereum Layer-2 scaling solution, while Kraken is developing Ink, yet another Ethereum Layer-2 solution.
Tether has picked Layer 2 Ethereum protocol Arbitrum to provide the infrastructure for its new cross-chain initiative, Legacy Mesh.The news follows Tether’s launch of a new token, dubbed USDT0, in mid-January to facilitate smoother cross-chain transfers of USDT outside of blockchains that already support it. The aim was to do it without needing to use techniques like wrapping tokens or blockchain bridges.USDT0 is pegged one-to-one with Tether’s flagship stablecoin, USDT. It's currently the world’s largest stablecoin with a market cap of $141 billion according to CoinGecko. It runs on LayerZero’s Omnichain Fungible Token (OFT) standard, which has been used by other stablecoins such as PayPal’s USD stablecoin, PYUSD.The Arbitrum blockchain will act as a “hub chain,” connecting the USDT and USDT0 networks. Through it, USDT deployments on Arbitrum, Ethereum, Tron, Ton, Ink, and Berachain will link back to a unified USDT0 network.Steven Goldfeder, co-founder and CEO of Offchain Labs, which develops Arbitrum, said, "The Legacy Mesh is an important milestone for Arbitrum, ensuring that users and developers have access to deep, liquid markets regardless of the blockchain they are on."Tether has been on a roll since 2025 when it comes to increasing interoperability with other blockchains. Tether recently incorporated interoperability with Bitcoin via the Lightning Network at the end of January, following announcing the move at a Bitcoin conference in El Salvador.The stablecoin issuer has also been reporting record numbers when it comes to its finances
Bluwhale AI Inc. has raised $100 million to develop an "intelligence layer" for decentralized AI agents across Layer-1 and Layer-2 blockchain networks. Partnering with Caldera Network Inc., Bluwhale will create a Layer-3 zero-knowledge rollup network called Oceanum, enhancing AI application scaling. The funding includes a $75 million token purchase and contributions from investors like Cointelegraph and SwissBorg. Oceanum aims to decentralize AI by aggregating data securely and efficiently.
Offchain Labs has appointed Ira Auerbach as head of Tandem, its partner studio and venture capital arm, aimed at enhancing blockchain adoption.
Market leader appointed to accelerate Tandem, Offchain Labs' partner studio and venture capital armNEW YORK, Jan. 9, 2025 /PRNewswire/ -- Offchain Labs , the team of initial core developers behind Arbitrum, and the Ethereum consensus client Prysm, today announced the appointment of Ira Auerbach as Head of Tandem, the company's partner studio and venture capital arm. Auerbach joins Offchain Labs from Nasdaq, where he served as Senior Vice President and Head of Digital Assets.In his new role, Auerbach will lead Tandem, a division of Offchain Labs that focuses on supporting select projects building innovative blockchain applications and infrastructure solutions. Auerbach and team will be equipped to provide projects with valuable resources specific to their needs, including technical expertise, research, financing, and/or go-to-market strategy. Projects under Tandem's purview will have direct access to Offchain Labs, working in line with the company's executive team, core developers, and vertical experts to continue pushing the blockchain ecosystem forward."I'm thrilled to join Offchain Labs and lead Tandem at this pivotal moment in blockchain innovation," said Auerbach. "Tandem's unique position to leverage Offchain Labs' deep technical expertise and ecosystem relationships creates an unparalleled opportunity to support and accelerate projects that will define the future of blockchain technology."Auerbach brings extensive experience in digital assets and financial technology to Offchain Labs
Offchain Labs is Hiring for 4 Jobs on Simplify!
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About Offchain Labs
Industries
Fintech
Crypto & Web3
Company Size
51-200
Company Stage
Series B
Total Funding
$139.8M
Headquarters
Princeton, New Jersey
Founded
2018
Offchain Labs is Hiring for 4 Jobs on Simplify!
Find jobs on Simplify and start your career today