According to Forbes, Five Bells, created by former NYDIG and Two Sigma team members, has completed its seed round of funding, led by Ego Death Capital, with participation from Epoch VC, Timechain, Fulgur Ventures, and others. The company states that it is building a "native Bitcoin DvP (Delivery versus Payment) settlement layer," aiming to lock in settlement terms on the Bitcoin chain in advance, similar to a custodial mechanism that locks BTC, and automatically completes delivery after fiat wire transfer or stablecoin payment confirmation, in order to reduce counterparty risk, operational friction, and settlement costs in large institutional Bitcoin transactions.

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