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Jump Crypto Backs $5M Round for Bitcoin Wallet Xverse
The Web3 app supports Ordinals, the technology that brought non-fungible tokens to the Bitcoin ecosystem.
Bitcoin Web3 wallet Xverse has raised $5 million in a seed round led by noted industry investor Jump Crypto. The new funding will help the company accelerate development of advanced features related to decentralized finance (DeFi) and Stacks, Lightning and other Bitcoin scaling solutions.
Hong Kong-based Xverse supports Ordinals, a method of generating non-fungible tokens (NFT) on the Bitcoin blockchain using inscription that launched in January. Last month, Ordinals were in the spotlight after daily new inscriptions hit 350,000. Xverse is available through iOS, Android and a Chrome extension.
STORY CONTINUES BELOW
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Other 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, among others.
Read more: BRC-721E Token Standard Converts Ethereum NFTs to Bitcoin NFTs
Brandy Betz
Brandy covered crypto-related venture capital deals for CoinDesk. She previously served as the Technology News Editor at Seeking Alpha and covered healthcare stocks for The Motley Fool. She doesn't currently own any substantial amount of crypto.
