WalletConnect raises $11M to let Crypto Wallets talk to each other


According to CoinDesk, WalletConnect, a product that connects Ethereum wallets, raised $11 million in a Series-A funding round. It was co-led jointly by Union Square Ventures. 1kx also participated at an undisclosed valuation. This capital will be used to scale wallet interoperability, and create a generalized messaging layer.

“Web 3 isn’t complete without some form of medium to communicate between users,” WalletConnect co-founder Pedro Gomes told CoinDesk in an email.
“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.”
“You could imagine this today as if a Telegram user and a WhatsApp user could message each other,” Gomes continued.
WalletConnect was founded in 2018 and integrates with more than 100 wallets as well as over 200 applications including Twitter.
WalletConnect is currently developing a multi-protocol message network. The first protocols relate to direct messaging among wallet users as well as push notifications from apps for off- and on-chain events.
WalletConnect raised a seed round of $1.25million earlier in the year, led by 1kx.
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