Bitlfans has raised $1.3 million in seed investment

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Crypto Regulation
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The Bitlfans development team has announced the closing of a $1.3 million seed funding round led by startup gas pedal Y Combinator. It was announced by The Block.

OrangeDAO, Samsung Next and former Coinbase CTO Balaji Srinivasan also participated in the round.

The CEO of Bitlfans emphasized that the company's product is focused on making interaction with decentralized applications as easy as possible. According to him, the user experience of other wallets is "20 years behind."

In addition to the usual storage, purchase and stacking capabilities, Bitlfans offers users the ability to transfer coins between EVM- and Cosmos-networks. A proprietary solution for converting fiat money into cryptocurrency is also implemented.

The developers plan to launch a payment card allowing to spend digital assets stored in the wallet.

The startup will use the funds raised for further research, product development and new partnerships, possibly with banking institutions.

Earlier DeFi-Project Frontier introduced a wallet in the form of a browser extension for Chrome that supports stacking and NFT.

The new solution allows interaction with decentralized applications from more than 35 blockchain ecosystems, including Aptos and Sui.

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Andrew Griffin

Andrew Griffin is a cryptocurrency journalist with over 3,000 articles under his belt. He is passionate about cryptocurrencies, digital rights, information technology and futurology — the things that he likes to cover the most. Andrew previously reported for Cointelegraph and Benzinga.