Xverse Raises $5 Million in Seed Funding Round
Xverse, a bitcoin wallet that supports ordinals inscriptions and BRC-20 tokens, has successfully raised $5 million in a seed funding round. The round was led by Jump Crypto, with participation from Franklin Templeton, Sfermion, Alliance, NGC Ventures, and others. This funding round brings Xverse’s total funding to $6 million, as the startup had previously raised $1 million in pre-seed funding in 2021.
Key points:
– Xverse is a bitcoin wallet that recently started supporting ordinals inscriptions and BRC-20 tokens.
– Ordinals inscriptions allow for the creation of non-fungible tokens (NFTs) on the Bitcoin blockchain.
– BRC-20 tokens are similar to Ethereum’s ERC-20 tokens and are supported by Xverse.
– Xverse plans to expand its team and hire more engineers with the newly acquired funding.
– The company also has plans to support the Bitcoin Lightning Network for faster and cheaper transactions.
With the challenging funding environment this year, Xverse’s successful funding round is a testament to the growing interest and support for cryptocurrency-related projects. This funding will enable Xverse to further develop its platform and expand its capabilities, ultimately benefiting its users in the crypto space.
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