Xverse Secures $5 Million in Seed Funding Round for Bitcoin Web3 Wallet, Led by Jump Crypto
Yesterday, Hong Kong-based startup Xverse, the provider of a Bitcoin Web3 wallet that supports Ordinals and BRC-20 inscriptions, successfully raised $5 million in a seed funding round led by Jump Crypto.
The company, known for driving mainstream adoption through its user-friendly interface on iOS, Android, and its Chrome extension, is set to accelerate the development of advanced features around DeFi, Stacks, and other Bitcoin scalability solutions.
With the Bitcoin market cap standing at $572 billion and Ordinals as the fastest-growing layer-2 protocol in Bitcoin's history, the funding highlights a critical time for investment and growth in the Bitcoin ecosystem.
With over 350,000 downloads in the last year, the Xverse Bitcoin Web3 wallet has gained substantial momentum. The interface's integration on multiple platforms sets a new standard for Bitcoin wallets, which plays a vital role in propelling Bitcoin toward the mainstream.
Additional participants in the funding round include RockawayX, Sfermion, Alliance, NGC Ventures, V3ntures, and several other key players. Together, they are investing in Xverse's ambitious moves, including recently announcing support for Ledger hardware wallets and becoming the first Ordinals-focused wallet to offer cold-storage security options for Ordinals and BRC-20 tokens.
Ken Liao, founder and CEO of Xverse, emphasized the importance of seed funding in an interview with Cointelegraph.
"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," he said.
Xverse's recognition in the Bitcoin wallet sector is growing,
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