Web3 Wallet Omni Secures $11 Million Following Partnership With MEXC Ventures’

Media reports state that Web3 wallet Omni declared in May this year that it had completed an equity financing for USD 11 million at a USD 50 million valuation. The Spartan Group, GSR Markets, Eden Block, OP Crypto, and other institutions were among the investors and MEXC Ventures, a fund under MEXC.

All About Omni

James Stackhouse, Alex Harley, and Serafin Lion Engel founded Omni, formerly Steakwallet. It supports cross-chain token transfers and has built-in liquidity and staking features.

Omni has developed middleware for smart contracts that allow users to stake tokens through more than 20 protocols and shows NFTs based on various blockchains on their mobile application. Omni will eventually integrate with more L2 networks, including zkSync, StarkNet, and others.

“The primary hurdle that stands between users gaining access to the future of the internet, is ease of use. That’s why we built Omni: an incredibly easy-to-use Web 3 application that can do it all without sacrificing even a fraction of self-sovereignty,” Engel said in the announcement. “Especially after seeing the CeFi meltdown, we wanted to give users something that was as easy to use as CeFi, but 100% self-custodial and DeFi. And that’s what we’ve done with Omni.”

Partnership with MEXC

MEXC Ventures is a diversified fund devoted to the digital asset, cryptocurrency, blockchain, and other technology industries. It is associated with the cryptocurrency trading platform MEXC. It is dedicated to assisting teams and entrepreneurs in their long-term growth and success in the blockchain sector by offering expert consulting services, financial support, and technical assistance.

The investment manager of MEXC Ventures said: “The future of blockchain is an organic ecosystem where multiple L1s and L2s intertwin. The wallet is the first step in the user’s web3 experience, and it is like a transportation hub. Thus, its ability to interoperate with each chain and layer smoothly is very important. Omni caters to the needs of the market and makes up for the shortcomings of current competing products. From a user experience point of view, it allows users to manage assets and interoperate contracts on each chain more conveniently.”

MEXC Ventures has invested in various industries, including DeFi, NFT, GameFi, and blockchain infrastructure. Over 50 blockchain projects, including Avalanche, Mina, Qredo, Polkadot, Manta, Dorafactory, Raydium, and many more, have received funding from it.