Crypto Wallet Blocto Launches $3M Fund for Aptos-Based Projects

The layer 1 blockchain from ex-Meta employees made its mainnet debut last month with a limited ecosystem.

AccessTimeIconNov 3, 2022 at 1:00 p.m. UTC
Updated May 9, 2023 at 4:01 a.m. UTC

Blocto, a Mark Cuban-backed multi-chain crypto wallet and ecosystem, has opened a $3 million Aptos Ecosystem Fund to help projects onboard new users, according to a press release provided to CoinDesk.

Aptos Labs, the company behind Aptos, was co-founded by Mo Shaikh and Avery Ching, former Meta employees who helped create the tech giant’s failed stablecoin known as diem. The high-profile layer 1 blockchain raised $200 million in a March funding round led by noted investment firm Andreesen Horowitz and then raised another $150 million in a July round led by FTX Ventures and Jump Crypto. However, the mainnet debut last month was shaky, with initially slow transaction times and a limited ecosystem as dozens of projects were still waiting to launch.

Blocto was founded in Taipei in 2019 by parent company portto and offers a wallet application and ecosystem that aims to make it easier for new users to enter the Web3 space through features such as email logins and universal gas or transaction fees. Blocto, which has raised $8.8 million in funding, according to Crunchbase, also supports the Ethereum, Solana, Flow, BNB Chain, Polygon and Tron blockchains.

"We've been on the lookout for promising blockchain ecosystems with long-term potential, and Aptos has caught our attention,” said Blocto co-founder and CEO Hsuan Lee in the press release. “It aims to make blockchain accessible for average users – a big focus for us at Blocto – and has accumulated a lot of momentum in the dev community, even in the current market situation."

Alongside the funding, Blocto will also offer the selected projects operational support, including access to Blocto’s investor base, financial marketing team and its developers.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Brandy Betz

Brandy covered crypto-related venture capital deals for CoinDesk.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.