Sui-Based Ethos Wallet Raises $4.2M in Seed Round

The underlying blockchain was developed by former employees of Facebook parent Meta Platforms.

AccessTimeIconJan 26, 2023 at 3:40 p.m. UTC
Updated May 9, 2023 at 4:06 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Ethos Wallet, which integrates into decentralized applications (dapps) on the Sui blockchain, has raised $4.2 million in a seed funding round led by Boldstart ventures and gumi Cryptos Capital. The funds will be used for hiring, continued development of the wallet and developer infrastructure and to expand the product beyond traditional wallet capabilities, according to a press release Thursday.

Other investors in the round included Mysten Labs, Tribe Capital, Matrixport, Charge Ventures, Builder Capital, Alliance DAO and Meltem Demirors, who is chief strategy officer at digital-asset investment firm CoinShares, among others.

Co-founded by CEO Nadia Eldeib and Chief Technology Officer Jared Cosulich, Ethos Wallet was the first application to go live last year on the developer network of Sui, a layer 1 blockchain built by Mysten Labs, which is staffed by veterans of Facebook parent Meta Platforms' (META) scrapped Diem stablecoin project.

The wallet can be used to store and trade crypto and to help discover and build dapps in the Sui ecosystem. The Ethos Wallet team has also launched the on-chain game Sui 8192 and chess and checkers games backed by non-fungible tokens (NFTs). The games can be played directly in the wallet.

"When we first set our sights on developing a wallet on the Sui blockchain, it became our mission to evolve what a crypto wallet is. Currently, they are viewed as a place to store crypto assets, however, they have the capability to do much more,” Eldeib said in the press release. “With Ethos, we're working on developing, discovering and interacting with blockchain-based applications and to make those interactions safer and easier to use.”


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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

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.