Legal Notice: Nothing on the website constitutes professional and/or financial advice. All the content on the website is for informational purposes only. We have prepared all information herein from sources we believe to be accurate and reliable. However, such information is presented as is,” without warranty of any kind – whether expressed or implied. You acknowledge and agree that there are numerous risks associated with purchasing cryptocurrencies.

CDS Startups Odsy Network Raised $7.5 Million at a Valuation of $250 Million

Startups

Odsy Network Raised $7.5 Million at a Valuation of $250 Million

Odsy Network raised $7.5 million for the development of decentralized crypto wallets.

lectertodd13/05/20231 Mins read474

Odsy Network Raised $7.5 Million At A Valuation Of $250 Million

7.5 million dollars were raised by the layer 1 blockchain Odsy Network to support the creation of decentralized cryptocurrency wallets.

Table of Contents

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.

Sources:Coindesk

Previous post Frax Share (FXS) Explained

Next post New Testnet Argent

Written by

lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

You must be logged in to post a comment.