News02 October 2021

Web3 Wallet, XDEFI Wallet Secures $6M From Funding To Scale Next-Generation DeFi Wallet

XDEFI Wallet Secures $6M From Funding

Summary

· XDEFI has announced the end of a successful funding round

· The funding round raised $6 million

· XDEFI Wallet Chrome extension delivers the fastest possible user experience

· The invite-only beta version brought on board more than 20,000 users

Next-generation browser wallet, XDEFI has announced the end of a successful funding round that raised $6 million. The funding round was led by Mechanism Capital. Other participants include venture capitalists Animoca Brands, DeFiance Capital, Alameda Research, CoinGecko, Sino Global Capital, and Morningstar Ventures. Other participants included the world’s top DeFi users Scoopy Trooples, Darren Lau (The Daily Ape), Mariano Conti, and Mark Zeller (Aave).

“The crypto landscape has gone through immense change in the last year through the explosion of DeFi, NFTs, and multi-chain ecosystems. We are excited to back the XDEFI team, which built a beautiful product for users to take full advantage of the true Web3 experience.” - Mechanism Capital General Partner Andrew Kang.

The XDEFI Wallet Chrome extension is built with the ability to deliver the fastest possible user experience for DeFi and NFTs. It will achieve this by integrating nine blockchains, proprietary gas pricing algorithms, and the automatic addition of new token contracts to users’ wallets.

The completion of the invite-only beta version brought on board more than 20,000 users as the team plans to make it available to the public in October. The funds raised from the round will be used to launch proprietary integration with Solana and Terra. Some of the funds will be used to strengthen existing integrations with Ethereum, THORChain, and other EVM networks.

Kibet Elikana
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