MSafe, a prominent Aptos-based multi-sig wallet provider, recently achieved $5 million in Series A funding, with Jump Capital being the lead investor in this funding round. The financing round was joined by Shima Capital, SV Angel, Coinbase Ventures, Circle Ventures, Redpoint Ventures, and more.
MSafe announced details of the funding round today and added that it would use the funds to support the ongoing development of its multi-sig wallet platform. Thus, it can bring secure, private financial services to its users.
The deal, involving a future equity and token warrant, was not revealed as the startup’s value. Multi-signature, also known as multi-sig, is a digital signature requiring multiple users to authorize and send crypto transactions.
In a recent interview, CEO Wendy Fu pointed out that enterprises prefer solutions with multiple signatures, as they offer a team more control. “They won’t store all their assets in one key wallet, and that’s where our chance lies,” Fu added.
With this investment, the company is ready to expand its platform and continue to provide customers with secure and accessible solutions for managing digital assets.
A Closer Look at the New Development
Fu, an ex-software engineer for Meta’s Novi crypto payments wallet, stated that MSafe is the first multi-signature (multi-sig) iteration to be implemented on Aptos. Despite popular versions already operating on other blockchains, such as Safe on Ethereum.
Also read:Since Oct 2022, MSafe’s implementation of multi-signature wallets has been rapidly adopted by DEXs, DeFi projects, and NFT developers. The MSafe wallet offers superior security, seamless interoperability, and decentralization to tackle the main obstacles to broader crypto adoption.
MSafe provides an extra layer of safety for many Web3 projects, safeguarding users’ codes for their digital wallets and assets. For instance, it enables a safe and secure Web3 experience.
MSafe enables enterprises, organizations, and individual users to securely connect to the Move-based ecosystem. Also, it helps protect assets and allows teams to take charge of crypto-related assets collaboratively.
Its scalability ensures that the multi-sig wallet provider meets the needs of all users. MSafe has enabled over 12 top Move-built protocols to integrate blockchain protocol administrative control, treasury management tools, and smart contract deployment.
This platform is under the leadership of Wendy Fu (CEO), a founding member of Novi wallet and a former Diem project contributor at Meta, and Jacky Wang (CTO), a senior core protocol developer at Harmony. As part of the Meta’s Diem project, Mo Shaikh and Avery Ching developed Aptos, a new layer-1 blockchain.
It is powered by Move, the programming language initially created for Diem and released on mainnet in October 2020. Fu stated that Aptos and Sui, a layer-1 platform built on Move by ex-Meta staff members, provided companies with a layer-one entry point, which attracts new users.
MSafe is continuing to make strides in the industry, and its $5 million in investor funds will help the company expand its platform and services to meet the needs of its customers. With this new funding round, the company is well-positioned to continue its mission of providing customers with secure and accessible solutions for managing their digital assets.
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