According to an announcement by MomentumSafe on Twitter, the provider of secure and trustworthy wallet services for DeFi structures has raised a $5 million seed round to take the company to greater heights.
What Is MSafe?
MomentumSafe, also known as MSafe, prides itself in creating MSafe wallet; the first multi-signature, non-custodial digital assets management solution established on Web3 programming language, Move. The wallet guarantees its users true decentralization, improved security, and complete interoperability, which are the fundamental issues to be tackled in the mass adoption of virtual assets.
Other than bringing new business to Move and creating more awareness for the ecosystem, MomentumSafe also secures its clients’ virtual assets and allows individuals to manage on-chain assets as a team.
Since it was established in August 2022, MSafe has collaborated with several decentralized exchanges (DEXs), decentralized finance (DeFI), GameFI, NFT marketplaces, and developers of virtual asset wallets. The list includes ArgoUSD, PetraWallet, Zellic, Martian wallet, Layerzero, Bruh Bears, Pontem Network, Proton Sale, Econia, and many others.
MSafe To Grow With $5 Million Seed Fund
The seed funding round, which was spearheaded by Jump Crypto, also involved Circle Ventures, SV Angel, Superscript, Coinbase Ventures, Shima Capital, and Redpoint Ventures, as its notable participants.
Saurabh Sharma, Jump Crypto’s head of investments, stated:
“MSafe’s non-custodial digital asset management platform offers best-in-class security, decentralisation and flexibility needed by organisations. We are excited to support MSafe’s strong team with ambitious goals and capabilities to scale web3 financial services.”
The $5 million-seed fund will be used by MomentumSafe to enable and quicken the firm’s growth. It will be used to recruit more workers to MSafe’s labour force, build its product portfolio, and scale the company’s product adoption.
The founder and CEO of MomentumSafe, Wendy Fu said:
“We created MSafe with a mission to provide more secure and decentralised financial services to scale digital assets management and transaction on-chain. Starting with the multi-sig non-custodial wallet, we aspire to be a one-stop destination for institutions, enterprises, and individuals to manage and grow their digital assets.”