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

Xverse said in a statement statement that the round also saw 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.

“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.

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.

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.

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.

With a market cap of $600 billion, Xverse opined that bitcoin has immense potential for both the DeFi and NFT markets.

It said 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 said it has seen plenty of momentum in the last year.

Xverse said the firm is continuing to make ambitious moves. It has recently announced support for Ledger hardware wallets and becoming the first ordinals-focused wallet to offer cold-storage security options for Ordinals and BRC-20 tokens.

“Xverse is simply the best consumer product I’ve used in the bitcoin ecosystem,

“It’s also the first and only bitcoin-related investment we’ve made,” said Qiao Wang, core contributor to Alliance.

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