Liquidity is a portfolio company of Brooklyn, N.Y.-based blockchain software company ConsenSys.
Liquality co-founder Simon Lapscher told CoinDesk the funding will be used to build out new functionalities and expand the concept of the wallet to a more developer-focused platform “so that developers can build integrations into the wallet and make it super powerful.”
“The idea is that we are creating this main interface to the decentralized economy," Lapscher added. "As dapps evolve and wallet functionality evolves, our take is that all of the functionality will live inside the wallet and interact with different applications in a super easy and seamless way.”
Creating and building out products that work on different blockchains for customers to manage crypto assets is a burgeoning market as multiple blockchains emerge with usable applications. But as they do, users’ assets can become stranded on networks that don’t talk to each other. To date, porting tokens from the Ethereum blockchain to, say, the Solana blockchain has been difficult.
Lapscher said Liquality will have a number of other functionalities and integrations launching later this year. “We are in the works with Solana currently and with Arbitrum on layer two, and also the Cosmos and the Terra ecosystem which are starting to take off as well,” he said, referring to some blockchain technology products.
In April, Liquality released a feature for users to spend bitcoin and other coins at online crypto merchants without having to manage addresses or QR codes.
Liquality co-founder Thessy Mehrain stressed the importance of “unifying blockchain communities within one wallet,” adding that “most, if not all, crypto activity will happen directly through users’ wallets.”
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.