WalletConnect raises 11M to Establish Messaging Contact for Crypto Wallets

Key Takeaways:

WalletConnect raised $11 million in a Series A funding round in cahoots with Union Square Ventures and 1kx at an discreetly unknown valuation.

-WalletConnect envisioned interlinking as many e-wallets to Ethereum-based applications as possible.

Ethereum wallets connector WalletConnect has recently raised a staggering amount of $11 million in a Series A funding round in cahoots with Union Square Ventures and 1kx at an discreetly unknown valuation, according to an announcement made by the organization.

“Web 3 isn’t complete without some form of medium to communicate between users,” WalletConnect co-founder Pedro Gomes told news organization CoinDesk through an email exchange.

“Since wallets essentially introduce digital identities that are portable across applications, we are able to create a shared messaging layer that isn’t owned by any particular wallet or application,” it added.“You could imagine this today as if a Telegram user and a WhatsApp user could message each other.”

Started in 2018, WalletConnect envisioned interlinking as many e-wallets to Ethereum-based applications as possible. With more than over 100 wallets integrated along with 200 applications.Ever since its inception, WalletConnect has been coming up with protocols to facilitate messaging to direct messaging between wallet users.

Roopashi Semalty
Roopashi Semalty

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