Wormhole Labs emerges from stealth to accelerate innovation on Wormhole Senior operators leave Jump to co-found Wormhole Labs and continue growing cross-chain ecosystem
Cayman Islands
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November 29, 2023 09:00 AM Eastern Standard Time
Wormhole Labs, a technology company founded by former senior operators at Jump Crypto, announced its launch today after a period of stealth to accelerate innovation on the Wormhole network, the world’s first interoperability protocol.
Since its launch in 2021 as the world’s first generic messaging protocol, the Wormhole network has become mission-critical infrastructure for the biggest blockchains and currently supports hundreds of projects sending more than 2 million messages every day. In total, the network has facilitated the transfer of over $35 billion in value and has processed close to a billion messages. Wormhole’s technology has been adopted by the teams building industry leading protocols like Uniswap, Synthetix, Lido, Pyth, Threshold, and many more.
Wormhole Labs is a technology company that specializes in building products, tools, and reference implementations to help grow the Wormhole network, as well as the broader cross-chain ecosystem. Operating independently provides the Wormhole Labs team an opportunity to double down and accelerate innovation on a widely-adopted project serving a critical need in crypto.
“Like a lot of good ideas, when Wormhole was first launched in 2021, the concept of interoperability across blockchains was seen as premature,” said Saeed Badreg Co-Founder and CEO of Wormhole Labs. “Fast forward to today, and we’ve seen Wormhole’s uptake outstrip even our most ambitious targets.”
"Like countries facilitating commerce across borders, each blockchain is its own economy needing easy trade to grow. At Wormhole Labs, we specialize in building the tools and infrastructure that make connecting across these digital borders seamless."
Wormhole Labs has welcomed aboard 15 former engineers and product managers from Jump Crypto Group. These professionals, who had already been contributing to the project during their tenure at Jump, bring a wealth of expertise and insight to the company.
Helping co-found Wormhole Labs is the former founding PM of Stripe Crypto, Aakash Thumaty, “While I was at Stripe, we talked about our mission to increase the GDP of the internet. At Wormhole Labs, we’re fundamentally solving the same problem - building a developer platform that makes building in crypto more accessible and commercially viable.”
“Wormhole has been a critical piece of infrastructure and gateway to the Solana network since 2021, enabling developers to easily onboard users to Solana,” said Anatoly Yakovenko, the co-founder of Solana. “ I’m excited that the exceptional engineering team at Wormhole Labs will bring even more development focus to Wormhole. I’m excited to see what Wormhole will build next."
"I'm very excited about Synthetix and Wormhole Labs codeveloping core infrastructure for upcoming versions of Synthetix." – Kain Warrick Founder of Synthetix Protocol
"Having known the team at Wormhole Labs for many years, we're thrilled to see such a talented group take this big step in the benefit of the project. Wormhole has always been critical infrastructure and we at Backpack are excited to co-build an interoperable future together.” – Armani Ferrante Cofounder and CEO of Backpack
About Wormhole Labs
Wormhole Labs is a technology company that specializes in building products, tools, and reference implementations to expand the cross-chain ecosystem. We’re committed to open-source development and laying down the paths for a connected decentralized world.
About Wormhole
The Wormhole Network is the industry’s first interoperability protocol. Since its launch in 2021, it has supported hundreds of projects across 30+ networks, facilitated the transfer of over $30+ billion in value, and has processed close to a billion messages. Wormhole’s technology has been adopted by industry leading companies like Uniswap, Synthetix, Lido, Pyth, Threshold, and many more.Do you want to be the First to Know? Subscribe to the Wormhole newsletter and get the latest news even before they hit Twitter.To learn more about Wormhole, visit wormhole.com, or chat with us on Discord.
Do you want to be the First to Know? Subscribe to the Wormhole newsletter and get the latest news even before they hit Twitter.To learn more about Wormhole, visit wormhole.com, or chat with us on Discord.
Contact Details
Wahaj Khan
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