Jump Crypto led a $5 million seed funding round for the Hong Kong-based Bitcoin wallet Xverse.
According to a press release from Xverse, additional investors in the round included 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, and Despread.
Additionally, Udi Wertheimer, 9gagceo, Pio, Ninos, Ninor Mansor, Larry Salibra, and businessman.eth have joined the Xverse team as strategic angel investors, each of whom brings a specific set of skills to support the company’s growth.
“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,” said Ken Liao, Founder, and Chief Executive Officer of Xverse.
He claims that the success of Xverse and the Bitcoin ecosystem was boosted when the team won first place out of more than 700 startups in the startup competition held in conjunction with Paris Blockchain Week.
He added that Xverse was the first Bitcoin project to leave Alliance, the top Web3 accelerator and founder community.
With support for ordinals, non-fungible tokens (NFTs), DeFi, and decentralized applications, Xverse is a Bitcoin wallet for Web 3.
Users can securely manage Bitcoin on layer 1 as well as layer 2 networks like Stacks, and soon, the Lightning Network, with the help of Xverse, which offers a gorgeously designed, simple-to-use wallet available on iOS, Android, and desktop as a Chrome browser extension.
As the most integrated Bitcoin wallet, Xverse has made a name for itself, attracting the attention of major players like OKX and Magic Eden.
Ordinals’ recent “Bitcoin Renaissance” has brought in a fresh wave of developers and funding, laying the groundwork for future expansion.
Xverse asserted that Bitcoin, which has a market cap of $600 billion, has enormous potential for the DeFi and NFT markets.
It claimed that ordinals have emerged as the layer-2 protocol with the greatest rate of growth in the history of Bitcoin, attracting fresh interest from investors and developers and increasing the need for supporting infrastructure.
The leading Bitcoin Web3 wallet that supports ordinals and BRC-20 inscriptions, Xverse, claimed to have experienced significant growth over the previous 12 months.
