PayPal Ventures, the global venture capital arm of PayPal, has reinforced its commitment to blockchain by investing in Chaos Labs, a leader in onchain risk management.
At the heart of this investment was Chaos Labs’ recent launch of Edge, a new decentralised oracle protocol that has captured considerable industry attention. In just two months, Edge has secured $30bn and has been adopted by exchanges like Jupiter and GMX.
Edge aims to provide a fast and reliable oracle solution that combines accurate price data with useful market insights. The product tracks specific risk signals, processes offchain data and delivers a single actionable data point.
Omer Goldberg, CEO and Founder of Chaos Labs, commented: “We’re excited to receive the strong confidence and additional support from the PayPal Ventures team. Edge by Chaos is the culmination of our entire company’s work and expertise.
“Edge Price, Risk and Proofs deliver meaningful and unmatched contextualised risk and price data for assets including stablecoins and other real-world-assets, in addition to the crypto assets and venues that provide access to them.”
Last month, PayPal Ventures participated in Chaos Labs’ $55m Series A funding round, which was led by Haun Ventures and included new investors like F-Prime Capital, Slow Ventures and Spartan Capital.
PayPal has recently focused significant attention and resources on the blockchain ecosystem. PayPal Ventures’ investment reflects this ongoing commitment, as the company introduced its stablecoin, PYUSD, on the Solana blockchain in May.
Amman Bhasin, Partner at PayPal Ventures, stated: “Our continued investment in Chaos Labs reflects our belief in their vision to create a safer crypto ecosystem and move more financial services on chain.
“Chaos Labs has emerged as a leading risk authority in the sector and we are thrilled to witness their evolution as they launch innovative products like Edge to mitigate oracle vulnerabilities.”
