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Jump Crypto Backs $5M Round for Bitcoin Wallet Xverse

The Web3 app supports Ordinals, the technology that brought non-fungible tokens to the Bitcoin ecosystem.

By Brandy Betz
AccessTimeIconAug 10, 2023 at 12:00 p.m. UTC
Bitcoin wallet Xverse raises $5 million (Pixabay)
Bitcoin wallet Xverse raises $5 million (Pixabay)
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Bitcoin Web3 wallet Xverse has raised $5 million in a seed round led by noted industry investor Jump Crypto. The new funding will help the company accelerate development of advanced features related to decentralized finance (DeFi) and Stacks, Lightning and other Bitcoin scaling solutions.

Hong Kong-based Xverse supports Ordinals, a method of generating non-fungible tokens (NFT) on the Bitcoin blockchain using inscription that launched in January. Last month, Ordinals were in the spotlight after daily new inscriptions hit 350,000. Xverse is available through iOS, Android and a Chrome extension.

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    • Other investors in the round included 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, among others.

    Read more: BRC-721E Token Standard Converts Ethereum NFTs to Bitcoin NFTs

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    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 Block.one; 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 employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz
    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.

    Follow @BrandyBetz on Twitter

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