A cryptocurrency wallet infrastructure provider has secured approximately $15 million in a funding round spearheaded by Ribbit Capital.
The company shared news of this funding on Wednesday, highlighting its application programming interfaces (APIs) designed to help developers manage and integrate user data. This functionality enables clients to provide crypto services and various on-chain capabilities, facilitating the buying, selling, and holding of cryptocurrency for end-users.
“Businesses that arise during the early days of crypto infrastructure will not only prosper but also change how value is generated and exchanged worldwide,” the company stated. “However, reaching this future depends on one essential element: enabling any developer to create seamless and secure experiences on crypto infrastructure.”
Although the exact amount of the funding round was not disclosed, the provider mentioned that this investment raises its total funding to over $40 million. Previously, the company had gathered $26.3 million in its initial two funding rounds. Estimates suggest that the latest investment hovers around $15 million.
The funding round saw participation from returning investors including Sequoia Capital, Paradigm, BlueYard, and Coinbase. Details about the company’s valuation in this round were also not made public.