Bitcoin wallet Xverse has secured $5 million in its seed financing round led by Jump Crypto, the cryptocurrency arm of proprietary trading firm Jump Trading.
The round saw the participation of Web3 and blockchain-focused venture capital firms including RockawayX, Sfermion, Alliance, NGC Ventures, V3ntures, Old Fashion Research, 2140 Bitcoin Ecosystem Fund, Bitcoin Frontier Fund, Franklin Templeton, New Layer Capital, Miton C, Gossamer Capital, Daxos Capital, Sora Ventures, Tyhke Block Ventures, IOBC Capital, and Despread.
Newman Capital is the only Hong Kong-based investor that participated in the round, alongside a slew of strategic angel investors, according to a company release on August 9. Newman, a full-stack proprietary venture capital firm, launched a $50 million investment fund in April last year targeting Web3 solutions.
“This seed funding sends a strong signal for Bitcoin, the most decentralized and secure settlement layer. This funding will enable us to accelerate advanced features around DeFi, Stacks, Lightning and other Bitcoin scalability solutions,” Ken Liao, founder and CEO of Xverse said in the release.
Founded in 2021, Xverse is a non-custodial Bitcoin wallet meaning that users have full control of their crypto asset. While it allows users to buy, store and transfer Bitcoin, it also enables users to interact with all the DeFi applications ranging from NFT marketplaces and decentralised finance protocols built, according to its website. Xverse’s wallet, which has since amassed over 350,000 downloads, is available via the iOS, Android, and Chrome extensions.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing all prominent venture capital transactions in the Greater China region from August 7 – 13, 2023.
