WalletConnect, a web3 communications protocol firm, has raised $12.5m in an ecosystem round.
The round saw participation from Coinbase Ventures, Shopify, Polygon, HashKey, Circle Ventures, ConsenSys, Uniswap Labs Ventures, Union Square Ventures, Foresight Ventures, 1kx and more.
The ecosystem round, the firm claims, will lay the groundwork for WalletConnect’s future development, forging the strategic partnerships that will contribute to the creation of the WalletConnect Network, a decentralized communications network anchored in the WalletConnect protocol.
Founded with the mission to connect web3 devices, the firm establishes an end-to-end encrypted connection between a wallet and an app, enabling the wallet user to securely interact with the app and carry out actions such as transaction signing and token authentication.
So far, the company has been integrated by more than 210 consumer and institutional wallets. Currently, WalletConnect is utilized by users in 157 countries to connect with web3 wallets and apps. It is also expanding its product suite with new communications APIs built on its interoperability infrastructure.
WalletConnect CEO and co-founder Pedro Gomes said, “WalletConnect began as a neutral protocol to enable interoperability within the fragmented web3 space. “As we continue to power connections between users, we are now entering the next chapter and focusing on decentralizing our infrastructure, fulfilling one of the promises of web3.
“This ecosystem round engages partners from across web2 and web3 to participate in the creation of the future WalletConnect Network, which will be decentralized and open to anyone who seeks to participate.”
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