Glacis Labs raises $6.8M to expand ZeroDelta clearing hub

Glacis Labs raised $6.8 million in a seed round led by Lightspeed Faction to expand ZeroDelta, its platform for matching, netting and settling digital asset transfers across blockchains. The round, raised in a single tranche after starting late last year and closing in March, included participation from Franklin Templeton, Coinbase Ventures, A.GAIN, Protein Capital and Techni Ventures. The financing was structured as equity with token warrants. Lightspeed Faction received a non-voting board observer seat; the firm did not disclose who will hold the seat.

ZeroDelta is built on two core components: Glacis Core, a cross-chain messaging layer, and AirLift, a token transport layer. The platform currently supports USDC, USDT and Ethena’s USDe. ZeroDelta matches and nets flows across multiple chains and trading venues before settling remaining balances onchain. Glacis is focusing first on stablecoins and plans to add tokenized securities, real-world assets and foreign exchange issuers; the company is integrating several real-world asset issuers and is in discussions with FX issuers outside the U.S.

Customers are institutional. Glacis categorizes them as market makers and dealers that rebalance assets across chains; aggregator and solver networks seeking lower-cost settlement routes; and stablecoin issuers and tokenization platforms that need continuous liquidity. The company charges fees on the volume it clears across the network.

Glacis reported that ZeroDelta has cleared more than $1 billion in transaction volume and is operating at a $1.5 billion annualized run rate, with about 90% of activity in stablecoins. The startup employs roughly 10 people working remotely in New York and Europe and plans to hire additional engineering, compliance and go-to-market staff over the next year.

Co-founder and CEO Jacob Blish described three elements Glacis views as advantages: native mint-and-burn transport that removes bridge risk; a matching engine that clears matched flow at par before any onchain movement; and neutrality, meaning the company does not act as a first-party trading counterparty. Blish declined to disclose the company’s valuation.

Investors expect to support Glacis with distribution and liquidity relationships as the company onboards slower-moving institutional clients and increases transaction flow to improve the efficiency of its clearing engine.