On October 13th, Fuel, the modular execution layer for Ethereum, announced the opening of the Beta-4 testnet and the native bridge between Ethereum and Sepolia. The Fuel native bridge enables asset transfers between L1 and L2 and utilizes message portals to process token standards such as ERC-20 and ERC-721. On L2, tokens have dedicated contracts for message processing and minting on Fuel. Any assets deposited into Fuel may take up to 6 hours to withdraw back to Ethereum. The Fuel native bridge is still in the testing phase.

Previously, reported that in September 2022, Fuel Labs announced the completion of an $80 million financing round, led by Blockchain Capital and Stratos Technologies, with participation from Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic, and ZMT.