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WalletConnect Raises $11M to Let Crypto Wallets Talk to Each Other
Union Square Ventures and 1kx co-led the round at an undisclosed valuation.
By Brandy Betz
Updated May 11, 2023, 3:59 p.m. Published Mar 8, 2022, 5:00 p.m.
WalletConnect, a product for connecting Ethereum wallets, has raised $11 million in a Series A funding round co-led by Union Square Ventures and 1kx at an undisclosed valuation, according to an announcement shared with CoinDesk. The capital will help scale wallet interoperability and develop a generalized messaging layer.
- “Web 3 isn’t complete without some form of medium to communicate between users,” WalletConnect co-founder Pedro Gomes told CoinDesk in an email. “Since wallets essentially introduce digital identities that are portable across applications, we are able to create a shared messaging layer that isn’t owned by any particular wallet or application.”
- “You could imagine this today as if a Telegram user and a WhatsApp user could message each other,” Gomes continued.
- Founded in 2018, WalletConnect now has integrations with over 100 wallets and more than 200 applications, including Twitter.
- WalletConnect is in the process of developing a multi-protocol messaging network. The first protocols will relate to direct messaging between wallet users and push notifications from apps for on- and off-chain events.
- WalletConnect previously raised a $1.25 million seed round early last year led by 1kx.
Read more: A Crypto Wallet by Any Other Name…
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