Tech

WalletConnect secures $12.5 million in an ecosystem funding round

11/03/2022
Bitcoin Ethereum News

Web3 communications protocol company, WalletConnect, announced raising $12.5 million in an ecosystem round, with participation from Shopify, Coinbase Ventures, ConsenSys, Circle Ventures, Polygon, Uniswap Labs Ventures, Union Square Ventures, 1kx, HashKey, Foresight Ventures, and others.

The recent ecosystem round lays the foundations for WalletConnect’s development, forming strategic partnerships towards establishing the WalletConnect Network, a decentralized communications network based on the WalletConnect protocol, according to a press release released to CryptoSlate. 

“Web3 has unleashed a new age of internet-driven innovation,” said Hooman Mehranvar, Corporate Development Lead at Shopify. “WalletConnect is a building block in this growing ecosystem, and we look forward to collaborating with the team to help push commerce into the Web3 era.”

The recent funding round follows WalletConnect’s Series A round last March, co-led by Union Square Ventures and 1kx, aiming to accelerate its product pipeline and scale the company.

Some recent developments from wallet connect

In 2018, Pedro Gomes founded WalletConnect to establish an encrypted connection between any two parties on any blockchain. The protocol has integrated more than 210 wallets and over 450 apps and services, including MetaMask, Uniswap, OpenSea, Twitter, Stripe, and Plaid. Further, the platform serves over 157 countries to connect with web3 wallets and apps.

Recently, WalletConnect has also released a new version of its protocol that provides access to multiple blockchains. As a first step, the protocol recently integrated Fireblocks on its platform, enabling Fireblocks users to securely and efficiently access all dApps built on Algorand through its platform.

Source: https://cryptoslate.com/walletconnect-secures-12-5-million-in-an-ecosystem-funding-round/