Coinbase, Binance and Kraken All Announce Support for New Layer-1 Crypto Project

Three top cryptocurrency exchanges are simultaneously announcing support for a new layer-1 crypto project.

In new statements, Coinbase, Binance, and Kraken all announce support for Sei (SEI) on the Sei Network.

Says US-based exchange Coinbase,

“Coinbase will add support for Sei (SEI) on the Sei network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on Coinbase & Coinbase Exchange in the regions where trading is supported.”

Kraken similarly announced in a blog post that trading for SEI would begin today.

Binance announced SEI trading together while simultaneously announcing support for another altcoin, CyberConnect (CYBER).

Sei Network’s is a layer-1 blockchain built on Cosmos that is optimized for trading and the exchanging of digital assets, and is designed to be a resilient, monolithic chain.

Sei Labs raised $30 million from several high-profile investors in the industry earlier this year to build the “fastest layer-1.”

Says the project’s website,

“Sei is a general purpose, open-source Layer 1 blockchain specialized for the exchange of digital assets. Leveraging a novel consensus and technical breakthroughs, Sei is the fastest blockchain in the industry. 

A common misconception is that Sei is a DeFi chain. However, the exchange of digital assets is universal across gaming, social, and NFTs (non-fungible tokens). Trading is general purpose.”

SEI launches as the 104th largest crypto by market cap.

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