Crypto wallet startup Giddy has raised $6.9 million in new funding, bringing total investments to in the company to more than $15 million to date.
Crypto Wallet Giddy Raises $6.9M in Funding to Further Self-Custody Adoption
Giddy, a startup that offers a recoverable self-custody smart wallet technology for cryptocurrency, has raised $6.9 million in new funding from investors including Pelion Venture Partners, Peak Capital Partners, Clarke Capital, and Fortnite co-creator Geremy Mustard.
The company’s total investments now amount to over $15 million.
Giddy plans to use the proceeds to further its goal of bringing crypto adoption to the masses. The company believes that centralized exchanges pose serious risks to users’ funds and that self-custody is the way forward.
In Giddy’s self-custody wallet, the private key is split, encrypted, and stored across multiple locations controlled by the user to ensure safety. Additionally, the company claims that its MPC technology allows users to recover their wallet even if they lose a recovery share.
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