Soul Wallet, a California-based startup that is creating an online, self-custodial Ethereum wallet, has landed $3.1m in seed funding.
Backers of Soul include Game7DAO, NGC Ventures, Dispersion Capital, Alchemy, Ankr, Signum Capital, Struck Crypto as well as a range of angel investors.
According to FinSME, Soul Wallet is building a wallet built on top of the ERC-4337 standard, which is designed to allow verification to be performed by smart contracts.
The company is currently advancing the wallet internally with plans to launch it in Q3 or Q4. Soul Wallet currently has a distributed team across the US, Japan, Thailand and China.
Soul Wallet claims it intends to use the funds to expand operations and its development efforts.
Aztec Network, which aims to realise the promise of Ethereum, late last year collected $100m in its Series B funding round, which was led by a16z crypto.
Through a16z’s support, Aztec hopes to build the next-generation architecture that allows users to verify that blockchain rules were followed correctly without revealing any underlying information.
The goal of Aztec is to take the original promise of Ethereum – a decentralised and verifiable world computer – and expand its capabilities by making it fully encrypted. Through this, it hopes to boost the transparency and trustworthiness of it.
Its encrypted architecture ensures Aztec transactions are always protected, whilst maintaining auditability and compliance.
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