Pillow Wants to Make Crypto Investing Easier for New Users

Pillow is a platform that aims to help even users who do not know the crypto world to earn, spend and invest in crypto currency. Nowadays, a new crypto currency and crypto project appear every day. Singapore-based crypto currency platform Pillow has announced that it has received an investment of $ 18 million in the Series A investment round. The investment round was jointly led by Accel, Quona Capital and Jump Capital, along with Elevation Capital, one of Pillow’s initial seed investors. In this article, we will examine Pillow, which aims to facilitate the investments of investors who are new to the crypto world.

Pillow
Pillow

About Pillow

Singapore-based crypto platform Pillow currently has more than 75,000 users in more than 60 countries. Supporting a total of 7 digital assets, including Bitcoin, Ethereum, Solana, Polygon, Axie Infinity and USD-backed stablecoins USDC and USDT, Pillow aims to increase this number in the coming months. Founded in 2021 by Arindam Roy, Rajath KM and Kartik Mishra, Pillow is focused on emerging markets such as Africa and Southeast Asia. Its founders say it has grown its user base 300% since the start of the year, with assets under management growing by 5X. It has also recently expanded into Nigeria, Ghana and Vietnam, among other markets.

Pillow co-founders Arindam Roy and Kartik Mishra discovered Web3 while working at authentication and AML software provider HyperVerge, as well as in the traditional financial industry, before founding Pillow. During that time, the two set up a Discord server to engage people on Web3 and reached over 15,000 people. “We’ve seen a pattern of recurring problems where people don’t know how to pay the fees, how to bridge the various blockchains, or which transaction they approve, and at the end of the day, they lose money,” the two told TechCrunch. In conclusion, we can say that Pillow was founded to facilitate the use of cryptocurrencies.

Pillow App
Pillow App

People who enter Pillow for the first time sign up with their email account first and, after some KYC authentication, receive a brief lesson on the potential risks of investing in digital assets before choosing which assets they want to invest in. They can then deposit cryptocurrencies to their crypto wallet address on Pillow from their own wallet or another crypto platform. In some countries where Pillow has partnered, users can buy crypto with their local currency. Pillow currently supports the local currencies of Nigeria, Philippines and Vietnam. With the investments it has received, it plans to add Southeast Asian, Latin American and African countries in addition to these countries.

Summary

Pillow is currently in the growth phase and we see that it is growing every day.Pillow says that with the investment they have received, they have moved on to the next stage of their journey. Pillow wants millions of users around the world to have access to digital assets without barriers of geography, education or infrastructure.

References

www.techcrunch.com

www.pillow.fund

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