Xverse Raises $5 Million in Seed Funding Round Led by Jump Crypto

Xverse has successfully raised a $5-million seed funding round led by Jump Crypto, a strong signal for the Bitcoin ecosystem. Xverse has established itself as a premier gateway to the ecosystem as the most integrated Bitcoin wallet

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Topics

Bitcoin
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Ordinals
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Stacks
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DeFi
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Partnerships
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Author(s)

Elizabeth Olson

Published

August 9, 2023

With a market cap of $600 billion, Bitcoin (BTC) has immense potential for both the DeFi and NFT markets. Ordinals have become the fastest-growing layer-2 protocol in Bitcoin’s history, bringing a new wave of investor and developer attention to the ecosystem and demand for compatible infrastructure.

As the leading Bitcoin Web3 wallet supporting Ordinals and BRC-20 inscriptions, Xverse has seen plenty of momentum in the last year. With over 350,000 downloads, the user-friendly interface on both iOS, Android and Chrome extension sets a new standard for Bitcoin wallets — a critical touchpoint in driving mainstream adoption.

The Hong Kong-based startup has successfully raised a $5-million seed funding round led by Jump Crypto with participation from 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.

Xverse has also onboarded strategic angels such as Udi Wertheimer, 9gagceo, Pio, Ninos, Ninor Mansor, Larry Salibra, and businessman.eth – each bringing unique expertise to bolster Xverse development. “We’re extremely excited about the continued development of the Bitcoin network and we believe Xverse is poised to excel as the best and most widely used wallet for all things Bitcoin,” says Pio, Co-Founder of The Nifty.

Xverse is continuing to make ambitious moves, recently announcing support for Ledger hardware wallets and becoming the first Ordinals-focused wallet to offer cold-storage security options for Ordinals and BRC-20 tokens.

Ken Liao, founder and CEO of Xverse said:

“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.”

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

“Xverse is simply the best consumer product I’ve used in the Bitcoin ecosystem,” said Qiao Wang, core contributor to Alliance. “It’s also the first and only Bitcoin-related investment we’ve made.”

Xverse has established itself as a premier gateway to the ecosystem as the most integrated Bitcoin wallet, including industry giants OKX and Magic Eden. The recent “Bitcoin Renaissance” ushered in by Ordinals has attracted a new wave of builders and funding, providing a solid foundation for further growth.

About Xverse

Xverse is the leading Bitcoin wallet for Web3, providing first-class support for Ordinals, NFTs, DeFi and decentralized applications. With a beautifully designed, easy-to-use wallet available on iOS, Android and desktop as a Chrome browser extension, Xverse lets users securely manage Bitcoin on layer 1 as well as layer 2 networks like Stacks, and soon, the Lightning Network. 

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Elizabeth Olson

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