Layer2 Network Kinto Migrates to Arbitrum Ecosystem Using Arbitrum Nitro Technology Stack

According to Foresight News, Layer2 network Kinto has migrated to the Arbitrum ecosystem using the Arbitrum Nitro technology stack. This migration took place after a structural change in the Arbitrum Orbit chain ecosystem, which granted the Arbitrum Foundation greater autonomy in negotiating Layer2 deployments. Kinto claims that it can support modern financial institutions and decentralized protocols by building KYC-compliant Layer2 networks. It also aims to reduce the risk of DeFi vulnerabilities and provide built-in insurance for all smart contracts. Foresight News previously reported on November 15 that, according to CoinDesk, Layer2 network Kinto announced it had completed a $5 million funding round this year to develop an anti-money laundering compliant Layer2 network based on the OP Stack. The goal is to connect financial institutions and real-world assets through DeFi. Earlier this year, Kinto received $1.5 million in Pre-Seed funding from Kyber Capital Crypto. Recently, Kinto completed another $3.5 million funding round, led by Kyber Capital Crypto, Spartan Group, and Parafi, with participation from SkyBridge Capital, Kraynos, Soft Holdings, Deep Ventures, Modular, Tane, and Robot Ventures.