Today, Hong Kong-based start up Bitcoin wallet Xverse announced they have successfully closed a $5 million seed funding round, according to a press release sent to Bitcoin Magazine.
The round was spearheaded by Jump Crypto, a prominent name in the blockchain investment realm, and saw the participation of several other backers including RockawayX, Sfermion, Alliance, NGC Ventures, V3ntures, Old Fashion Research, 2140 Bitcoin Ecosystem Fund, Bitcoin Frontier Fund, Newman Capital, Franklin Templeton, New Layer Capital, Miton C, Gossamer Capital, Daxos Capital, Sora Ventures, Tyhke Block Ventures, IOBC Capital, Despread and strategic angel investors.
Founder and CEO of Xverse, Ken Liao, expressed his enthusiasm for the funding, noting, “This seed funding sends a strong signal for Bitcoin, the most decentralized and secure settlement layer.” This infusion of capital bolsters Xverse’s trajectory, particularly its focus on advancing DeFi, Lightning Network, and other Bitcoin scalability solutions.
Xverse, which boasts seamless compatibility with Ordinals and BRC-20 inscriptions, has witnessed a big year of growth and momentum. Garnering more than 350,000 downloads across iOS, Android, and Chrome extensions. In the ongoing pursuit of mainstream adoption, the start up focuses on the “critical touchpoint” that user experience plays.
The Bitcoin wallet has also become the first Ordinals-focused wallet to introduce cold-storage security options for both Ordinals and BRC-20 tokens, in a move to ensure user assets remain safe. Since the emergence of Ordinals, Xverse has solidified its position as a premier gateway, boasting seamless integration with industry titans like OKX and Magic Eden.