DeFi Wallet Raised $40 Million and Focused on the Gaming Industry
The investment was led by Fabric Ventures and Metaplanet, the investment business of Skype co-founder Jaan Tallinn. Existing investors Paradigm, Index Ventures, and Creandum also participated, alongside new strategic backers Starkware, Jump Crypto, and Animoca Brands.
The funds will expedite Argent's efforts to support a broader range of DeFi and web3 activities.
Co-founder and CEO Itamar Lesuisse said in an interview,
"Argent still feels very finance-centric, and we want to play a big role in other NFT verticals — so NFT gaming, virtual real estate."
Additional functionality for crypto games will be developed to realize that ambition, such as infrastructure for onboarding new players and signing in-game transactions. Argent users can currently store non-fungible tokens (NFTs) in their wallets via connections to marketplaces such as OpenSea.
Mexico Bound
The money raised will also be used to expand Argent's services throughout Latin America, starting with Mexico, where Lesuisse sees a lot of interest. According to Lesuisse, some funds will be utilized to hire in-house legal, finance, and treasury management expertise and a new research team focused on Layer 2 protocols.
Argent, a financial "smart wallet" programme created for DeFi, was founded in 2017 and allows users to buy, store, and send cryptocurrency. According to the company, more than 500,000 people have downloaded Argent's app.
In March, the company debuted a new version of its crypto wallet based on zkSync, an Ethereum-focused scaling solution, to lower the cost and environmental impact of engaging with DeFi.
