Bitcoin Web3 wallet app Xverse has joined the seed funding round.
Xverse announced that it has received a $5 million investment in its financing round. Many participants took part in this investment round.
Xverse raises $5M in seed funding round
Bitcoin Web3 wallet Xverse has announced that it has received $5 million in seed funding. Investors such as Jump Crypto, Franklin Templeton and Alliance took part in this investment round.
Xverse stands out as a Bitcoin wallet that also supports BRC-20 tokens. According to the statement, Xverse received a $5 million investment in a seed funding round. Franklin Templeton, Sfermion, Alliance, NGC Ventures and others participated in the investment round.
Jump Crypto was the main participant who led this round. Ken Liao, Founder and CEO of Xverse, said in a statement that the Hong Kong-based startup started seed funding a few months ago and was completed “very recently.” However, he declined to give detailed information about the structure and valuation of the tour.
This seed round brought Xverse’s total funding to $6 million. When Xverse was founded in 2021, it had raised $1 million in pre-seed funding.
In the future, Xverse also stated that it has plans to support the Bitcoin Lightning Network. This network emerges as a solution that allows to perform faster and lower cost Bitcoin transactions.
This round of funding from Xverse took place in this year’s difficult funding environment. Liao stated that with the new capital, Xverse aims to expand its existing 13-person team, especially with engineers.
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