Cross-chain asset protocol Universal said it will shut down, with the protocol continuing to operate normally for the next 60 days until Nov. 17, 2026. Launched two years ago, Universal built Universal Assets, or uAssets, to bring assets such as SOL, XRP and DOGE into new ecosystems, with each token backed 1:1 by the underlying asset. The protocol said it has supported more than 80 assets. The team said adoption did not reach a level that could support the project over the long term, leading to the shutdown decision. Data from tokenized asset platform RootData shows that Universal previously announced a $9 million funding round in February last year, led by a16z Crypto, with Coinbase Ventures and other investors participating.
Universal, a cross-chain asset protocol, said it is shutting down. The protocol will continue normal operations for the next 60 days, until Nov. 17, 2026, according to ChainCatcher.
Launched two years ago, Universal built Universal Assets, or uAssets, to bring assets including SOL, XRP and DOGE into new ecosystems. The project said those assets were backed 1:1 by the underlying assets, and that it had supported more than 80 assets.
The team said adoption did not reach a level that would make the protocol sustainable over the long term, and it therefore decided to wind down the project.
RootData, a tokenized asset data platform, shows that Universal announced a $9 million funding round in February last year. The round was led by a16z Crypto, with Coinbase Ventures and other investors taking part.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
