Nirexcrypto has raised $1.3 million in seed investment

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Crypto Regulation
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The NirexCrypto 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 NirexCrypto 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, NirexCrypto 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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Adam Smith

Adam Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. Adam’s passion brings her back to her elementary school years as a poet. She enjoys discussing blockchain technology and is committed to producing original content. Adam also covers other rapidly developing markets and economic and cryptocurrency studies.