Blockchain startup Subzero Labs has secured $20 million in seed funding led by Pantera Capital, with participation from Variant, Coinbase Ventures, and Susquehanna's crypto arm. The company is developing the Rialo blockchain for real-world scenarios, aiming to break through the current limitations of crypto technology, which primarily serves financial speculation.

Co-founder Ade Adepoju, a former Mysten Labs engineer who also worked on the Sui blockchain, aims to provide non-crypto developers with a native solution for integrating external data (such as FICO credit scores) on-chain, without relying on oracles. The team currently has 20 members, and the funding includes equity and token subscription rights. The specific valuation was not disclosed. (Fortune)