Xverse Secures $5M to Become the MetaMask of Bitcoin
Bitcoin wallet startup Xverse has raised $5 million in a seed round led by Jump Crypto to build out its vision of becoming the one-stop wallet for the Bitcoin ecosystem.
Xverse offers a browser and mobile wallet designed to integrate seamlessly with Bitcoin native protocols like Ordinals, Lightning Network, and Stacks. The company sees Bitcoin as the next frontier for decentralized apps and NFT projects.
The funding round included notable crypto investors like Franklin Templeton and Bitcoin Frontier Fund. The fresh capital will help Xverse expand its team and develop advanced features to power web3 applications on Bitcoin.
A key part of Xverse’s strategy is supporting Ordinals, which allows creating NFT-like assets directly on the Bitcoin blockchain. Xverse quickly rolled out Ordinals integration earlier this year, establishing itself as a leader in the space.
Xverse founder Ken Liao sees immense potential in unlocking Bitcoin’s $1 trillion market cap for advanced smart contract functionality through protocols like Ordinals. He wants Xverse to support any promising project that can bring utility to Bitcoin.
While VC interest in crypto startups has declined recently, investors are still excited about expanding Bitcoin’s capabilities beyond just payments. Xverse aims to capitalize on this interest by becoming the MetaMask-like wallet for the entire Bitcoin ecosystem.
