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Layer2 network Kinto has migrated to the Arbitrum ecosystem.

According to BlockBeats news on November 21st, Layer2 network Kinto has migrated to the Arbitrum ecosystem using the Arbitrum Nitro technology stack. This migration was carried out after the Arbitrum Orbit chain ecosystem structure changed, giving the Arbitrum Foundation greater autonomy in negotiating Layer2 deployments. Kinto stated that it supports modern financial institutions and decentralized protocols by building Layer2 compliant with KYC standards. It also aims to reduce the risk of DeFi vulnerabilities and provide built-in insurance for all smart contracts. Earlier on November 15th, Kinto completed a $3.5 million financing 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. In addition, Kinto stated that it had received $1.5 million in pre-seed investment from Kyber Capital Crypto earlier this year.

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