VerifiedX Announces $15 Million Funding Target to Expand Bitcoin Custody and Token Infrastructure

VerifiedX Foundation disclosed a $15 million financing target on September 9, naming Cantor Fitzgerald as its investment‑banking partner. The round is intended to fund the development of institutional infrastructure for Bitcoin‑collateralized tokens.

Funding scope and current status

The foundation says it has secured initial institutional capital, but it has not disclosed the identities of investors, the amount already raised, or the terms of the financing. The $15 million figure represents the target amount rather than a confirmed close.

Planned use of proceeds

• Integrate custody with BitGo for the vBTC and Base‑based vBTC.b tokens.
• Secure listings for vBTC and the VFX token on unnamed tier‑one centralized exchanges, with the first announcement expected within weeks.
• Develop lending facilities that would allow users to borrow against Bitcoin collateral or lend assets for returns.

Custody and token design

VerifiedX describes vBTC as a Bitcoin‑collateralized token on its layer‑1 network, with vBTC.b serving the same purpose on Coinbase’s Base network. The project claims each token is backed one‑for‑one by Bitcoin and can be redeemed for the underlying asset. Custody is planned to use multiparty FROST threshold signatures and on‑chain reserve verification, allowing custodians to retain control of the underlying Bitcoin while users interact with the token.

Exchange listings and lending outlook

The foundation has indicated that “tier‑one” exchanges will list vBTC and VFX, but no exchange has publicly confirmed participation. Details on lending partners, collateral ratios, interest rates or liquidation mechanisms have not been released.

Regulatory and operational considerations

VerifiedX has not filed any regulatory documents confirming the amount raised, nor has it disclosed jurisdictional restrictions for token distribution. The project’s security audits, performed by Halborn, cover specific code versions but do not guarantee future vulnerability‑free operation.

Next milestones

The immediate milestones include finalizing the financing round, completing the BitGo custody integration, and announcing the first exchange listing, which the foundation expects within weeks.