Pantos, a crypto protocol designed to allow tokens to deployed on multiple blockchain networks, said its beta version has gone live.

According to a press release, the Pantos testnet supports seven chains: Ethereum, Polygon, Avalanche, BNB, Cronos, Celo and Fantom.

The project aims to bring a "multichain token system to the masses," according to the press release. Pantos's native token PAN trades on the Austrian crypto exchange Bitpanda, which has backed the project.

"Though it aims to eventually become a fully decentralized open-source protocol with PAN as its own gas token, the public beta of Pantos comes with a trusted validation mechanism to ensure a smooth launch," the company said.

In 2018 the project raised $12.1 million through an initial coin offering. In 2020 Pantos disclosed a deal with the Austrian bank Raiffeisen to provide technology for a tokenized fiat currency to connect to multiple blockchains.