Xverse Raises Strategic Round Led by Draper Associates

SINGAPORE, Oct. 5, 2026 — Xverse, the self-custodial Bitcoin neobank, today announced it has closed a strategic funding round led by Draper Associates, the early-stage venture firm founded by Tim Draper. Trust Machines and Draper Dragon also participated. Terms were not disclosed.

Legendary investor Tim Draper, who has publicly stated he does not intend to convert his Bitcoin back to dollars, views Xverse as the consumer layer for a future where Bitcoin replaces legacy financial rails entirely.

Tim Draper, Founding Partner of Draper Associates, said: "Everything in crypto converges to Bitcoin, and I've spent years funding the infrastructure that gets it there. Xverse is building the Bitcoin money app. This is what replaces the bank for regular people."

Xverse is building a self-custodial financial account for Bitcoin holders. The platform, which has surpassed two million downloads since launching in 2021, combines a Bitcoin vault with onchain Earn, Cash, and Borrow rails so users can hold, earn yield, and access liquidity while keeping control of their private keys.

The round comes as Bitcoin holders increasingly move assets off centralized exchanges and into self-custodial infrastructure. Bitcoin DeFi hit a new all-time high in total value locked in 2025, according to DefiLlama, and exchange balances dropped to a new all-time low in 2026, according to CoinGlass, demonstrating growing demand for onchain financial products built on Bitcoin.

"Bitcoin holders shouldn't have to choose between keeping their keys and putting their Bitcoin to work," said Ken Liao, Founder and CEO of Xverse. "Xverse is the financial account where you can hold, earn, borrow and spend, without ever handing your Bitcoin to someone else. That's what a Bitcoin bank should be."

The capital will fund Xverse's continued build-out of self-custodial Bitcoin financial rails so holders can earn yield, spend, and borrow against their Bitcoin without handing their keys to a custodian.

About Xverse

Xverse is the self-custodial Bitcoin neobank, headquartered in Hong Kong. Bank on Bitcoin. The platform combines a self-custodial Bitcoin vault with onchain Earn, Cash, and Borrow rails so users can hold, earn, and access liquidity while keeping control of their keys. Two million downloads and counting. Learn more at xverse.app and follow @xverse / CEO @YukanL on X.

About Draper Associates

Draper Associates is an early-stage venture capital firm founded in 1985 by Tim Draper and based in San Mateo, California. The firm invests from pre-seed through Series A across AI, robotics, biotech, defense, crypto, space, and deep tech. Notable investments include Tesla, SpaceX, Coinbase, Robinhood, Twitch, and Skype. Learn more at draper.vc.

About Trust Machines

Trust Machines builds applications and infrastructure that put Bitcoin to work as productive capital, expanding what users can do with Bitcoin beyond holding. Learn more at trustmachines.co.

About Draper Dragon

Draper Dragon is an early-stage venture capital fund within the Draper Venture Network. Founded in 2006 by Tim Draper, Larry Li, Andy Tang, and Bobby Chao, the fund operates as a cross-border vehicle connecting Silicon Valley and Asia.