Mezo, a Bitcoin scaling network built by Thesis, has secured a $7.5 million strategic round

The fundraising also attracted participation from ArkStream Capital, Aquarius Fund, Flowdesk, GSR, Origin Protocol and Mantle EcoFund.

Bitcoin scaling network Mezo, built by Thesis, has raised $7.5 million in a new strategic funding round. The round was led by Ledger Cathay Fund, the venture fund of hardware wallet provider Ledger. Other participants included ArkStream Capital, Aquarius Fund, Flowdesk, GSR, Origin Protocol and Mantle EcoFund.

The fundraising follows a $21 million funding round announced by Mezo in April, bringing its total funds raised to $30 million. “There were some additional checks put in following the last announcement that were not included in this strategic round,” said Mezo founder and Thesis CEO Matt Luongo, explaining how the total raised reached $30 million.

Mezo has onboarded 12,000 users who have deposited around 2,376 BTC, currently valued at about $160 million, according to Luongo. The platform also plans to use the new capital to further integrate with its other products.

This includes its Bitcoin staking platform Acre, which allows users to mint liquid staked bitcoin (stBTC) by depositing Thesis’ (tBTC) or WBTC into Mezo. Users can then utilize stBTC across various applications on the Bitcoin ecosystem to earn yield.

Ledger, whose venture fund led the round, will also integrate Mezo into its suite of products, according to Luongo.

While Mezo has yet to launch the MEZO token, plans for it will be announced later on, according to Luongo. The company currently utilizes a points-based program called “Proof of HODL,” which generates scores based on the length of time a contributor keeps their Bitcoins in storage.

Details on whether the points earned from the “Proof of HODL” program will be converted into Mezo tokens will also be announced at a later date, according to Luongo.