Bitcoin Wallet Startup Xverse Raises $5 Million in Seed Round of Funding

Hong Kong-based bitcoin wallet Xverse has raised $5 million in seed funding round led by Jump Crypto.

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 also participated in the round, according to a statement from Xverse.

Xverse has also brought on board strategic angels such as Udi Wertheimer, 9gagceo, Pio, Ninos, Ninor Mansor, Larry Salibra, and businessman.eth, each of whom brings unique expertise to Xverse's development.

"This seed funding sends a strong signal to Bitcoin, the most decentralised and secure settlement layer, that it is here to stay," says the author.

“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.

According to him, Xverse gained further recognition when the team was awarded first prize out of more than 700 startups at Paris Blockchain Week’s startup competition — a triumph for Xverse and the Bitcoin ecosystem.

Additionally, he said Xverse was the first Bitcoin project to graduate from Alliance, the leading Web3 accelerator and founder community.

Xverse is a Bitcoin wallet for Web3 providing support for ordinals, non-fungible tokens (NFTs), DeFi and decentralized applications.