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Arch Virtual Machine (ArchVM) is designed to enable Turing-complete smart contracts on Bitcoin, according to Arch Labs, by offloading computations off-chain and offering transaction speeds comparable to Solana
Arch Labs announced a $13 million funding round led by Pantera Capital to launch ArchVM
Arch Virtual Machine (ArchVM) is intended to address the difficulty of building native applications on Bitcoin, which lacks built-in smart contract functionality
Arch Labs plans to use the funds to grow its engineering team and accelerate the deployment of ArchVM, which Matt Mudano, CEO of Arch Labs, said is planned for public launch in early May
Arch Labs, founded in 2023, launched a test version of ArchVM in late 2024, drawing over 300,000 wallets and supporting several DeFi apps

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