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Usha Yadav
Sep 28, 2022
by Usha Yadav

Crypto Hardware Wallet Maker OneKey Raises $20M In Series A Funding

OneKey

Table of contents

  1. OneKey Completes "Minor Fundraising" Round
  2. Crypto Hardware Wallet Maker
OneKey, a Hong Kong-based manufacturer of crypto hardware wallets, has raised about $20 million in a Series A fundraising round. On Wednesday, OneKey tweeted the news, stating that Dragonfly and Ribbit Capital had led the round, with Coinbase Ventures, Framework Ventures, Sky9 Capital, Folius Ventures, and Ethereal Ventures among the additional investors. Santiago Santos and Feng Liu were the angel investors.

OneKey Completes "Minor Fundraising" Round

The crypto waller completed a round of "minor fundraising" with IOSG Ventures' participation. OneKey asserts that its code is free to use and claims that if a cryptocurrency wallet does not function in this way, it may conceal a backdoor that endangers the security of user assets. "OneKey is, to date, the only hardware wallet in the world that is 100% open source and uses a certified secure chip," Yishi Wang tweeted today.

Crypto Hardware Wallet Maker

OneKey, established in 2020, plans to be the top hardware wallet in the Eastern Hemisphere. Citing "incomplete 3rd-party statistics," Wang claimed that the crypto wallet maker had gained possession of crypto assets worth billions of dollars and is continuing to grow. Citing information from the company's shipped orders, Wang claimed that many staff at rival wallet manufacturers Ledger, Alchemy, and Infura use OneKey's devices.

"OneKey is very conscious of controlling the burn rate and prioritizing long-term profitability," Wang said, adding that the firm currently has no plans for a native token.

The hardware crypto wallet maker plans to offer support for new blockchains to expand. To cover all public blockchains and "enable customers stake and store their crypto assets and NFTs," Wang said the company would add about 40 additional networks per year. OneKey employs roughly 30 individuals at the moment and intends to maintain a lean workforce.

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Crypto Hardware Wallet Maker OneKey Raises $20M In Series A Funding
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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