Founded by former NYDIG executives, Five Bells has completed seed funding and is building a "native Bitcoin DvP settlement layer."

PANews March 3 News, according to Forbes, Five Bells, co-founded by former NYDIG and Two Sigma executives, has completed its seed funding round, led by Ego Death Capital with participation from Epoch VC, Timechain, and Fulgur Ventures.
Five Bells is building what it calls the “first native Bitcoin DvP settlement layer,” aimed at addressing counterparty risk in large-scale institutional Bitcoin transactions. Its solution allows trading parties to pre-lock settlement terms on-chain, similar to a custodial mechanism to lock BTC, and automatically settle after fiat wire transfers or stablecoin payments are confirmed, thereby eliminating operational friction and settlement costs. The scheme is based on Taproot FROST contracts, using the Bitcoin network as a neutral and shared trust anchor. The company plans to officially launch the service to clients after completing final testing and audits.