Argent raises $40 million for DeFi, Web 3.0 and GameFi

Argent raises $40 million

The Ethereum wallet (ETH) Money will be able to develop. Indeed, the London start-up has just raise $40 million in a Series B funding round to perfect the many tools it makes available to its users.

The roundtable was led by Fabric Ventures and Metaplanetthe investment fund founded by Jan Tallinn, one of the co-founders of Skype. Other investors include Index Ventures, Paradigm, Creandum, Jump Crypto and Animoca Brands.

We will also notice the presence of Starkware as an investor, the company behind the network StarkNet for which Argent X was the first available wallet.

Argent offers a mobile walletnon-custodial and without mnemonic phrase (seed sentence). This allows its users to benefit from the security offered by a non-custodial system while freeing itself from the burden of having the entire security of its funds dependent on a key, as explained Itamar LesuisseCEO of Argent:

“Non-custodial wallets really felt like users had a secret. And if they lose their secret, they lose their money. […] It’s way too scary. It is the most stressful experience. »

Since launching accounts running on layer 2 last year, Argent has been able to attract more than 500,000 users.

👉 To go further: Optimistic Rollup and ZK Rollup – the second layer solutions that improve the Ethereum (ETH) blockchain

Funds to be present on all fronts

This new capital injection will allow Argent to develop in Latin Americaparticularly in Mexico, where the demand for this type of product is growing, in particular due to local inflation and the mistrust of citizens towards their financial institutions.

Argent is also already focusing on creating a application specially dedicated to decentralized finance (DeFi) and Web 3.0, and also explores sectors as varied as virtual real estate, GameFi, DAOs and non-fungible tokens (NFTs).

“For each vertical, we can assemble a team that will explore and build solutions. We want the wallet to be the entry point for how you experience this world. »

Part of these new funds will also be used to recruit new staffwhether in terms of law, finance and cash management, or for exploring new developments in protocols operating on overlay networks.

👉 Related: DEX Aggregator 0x Labs Raises $70M for Web 3.0

Source: Crunchbase

Newsletter 🍞

Get a crypto news recap every Sunday 👌 And that’s it.

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

About the Author : Maximilien Prue

twitter-soothsayerdata

Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
All articles by Maximilien Prué.

Leave a Comment