Share this article
Web3 Social Wallet Tribes Launches With $3.3M in Funding
The crypto app startup was founded by a former Coinbase engineer.
By Brandy Betz
Updated May 9, 2023, 4:06 a.m. Published Jan 23, 2023, 2:38 p.m.
Tribes, a new Web3-native messaging and group wallet app, has raised $3.3 million in a pre-seed funding round led by Kindred Ventures, South Park Commons and Script Capital.
The fundraising closed in October, Tribes founder and CEO Hish Bouabdallah told CoinDesk during an interview last week, putting the round deep into a crypto bear market that put pressure on the investment landscape but ahead of the industry-shaking implosion of centralized exchange FTX. The strengthening of Web3 infrastructure to attract more Web2 natives and general users has emerged as a trend in the post-FTX investment environment.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Web3 primitives for co-ownership and collective action are transformative, but few people can make sense of the existing products and processes required,” Bouabdallah said in a statement provided to CoinDesk. “In order to realize the full promise of Web3, nailing collective action is absolutely essential. Our approach to embed it directly into group chat makes these powerful and newly possible Web3 actions understandable and accessible to the masses.”
Tribes group wallets let people co-own and manage digital assets while communicating directly through the wallet rather than through an outside messaging service such as Discord or Twitter. The use cases include decentralized autonomous organizations (DAOs) – token-gated communities built around as shared mission – or something as simple as family members wanting to co-contribute to the joint ownership of property. Wallets can send, receive and hold digital assets, including non-fungible tokens (NFTs), memberships and currencies. Sending or spending assets from the group requires a group vote for approval.
Available in the Apple (AAPL) and Google app stores, Tribes app users connect through their Coinbase Wallet. Bouabdallah was previously an engineer at Coinbase (COIN) who worked on developing the exchange’s wallet product.
Read more: Your First Crypto Wallet: What Is a Crypto Wallet and How to Use It
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
