7.5 million dollars were raised by the layer 1 blockchain Odsy Network to support the creation of decentralized cryptocurrency wallets.
Odsy Network Raised $7.5 Million at a Valuation of $250 Million
According to a Thursday email announcement, Blockchange Ventures led the investment round, which also included Rubik Ventures, Node Capital, and FalconX. The funding round valued the company at $250 million.
In addition to Blockchange Ventures, Rubik Ventures, Node Capital, and FalconX also took part in the fundraising round, which was led by Blockchange Ventures.
Odsy’s Purpose
A Zug, Switzerland-based organization working to promote network adoption, the company’s goal is basically to centralize access control on web3. To this end, it first aims to reduce the need for users to have multiple wallets to access different networks and applications, thus removing a barrier to wider adoption.
“Just as each internet account requires a log-in, each blockchain requires a different wallet – and the tracking and maintenance of different wallets present a significant challenge and headache for users. This challenge will only grow as the number of blockchain networks multiply.” Ken Seiff, Blockchange Ventures general partner
About Odsy’s dWallets
The decentralized wallets (dWallets) offered by Odsy are created with the capacity to sign transactions on virtually any other blockchain. Thus, they are intended to give users access to other Web3 protocols and platforms.
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