Blocto Secures $80 Million Valuation in A-Round Financing

02/22/2023 14:12 • Blockchain Briefs • 91 views

It is reported that Blocto, a multi-chain wallet, completed the A-round financing with a valuation of US $80 million. This round of financing was invested by Mark Cuban, IPX and 500 Global. The specific amount of financing was not disclosed. It is reported that currently Blocto has supported Aptos, Ethereum, Solana, Polygon, Flow and BNB Chain networks.

Multi-chain Wallet Blocto completed round A financing with a valuation of US $80 million

Analysis based on this information:

Blocto, a promising multi-chain wallet, has recently announced the completion of A-round financing with a valuation of $80 million. The A-round financing was led by prominent investors like Mark Cuban, IPX, and 500 Global. The specific amount of financing secured by Blocto has not been revealed yet. The recent funding will help Blocto to strengthen its position in the fast-growing cryptocurrency market and further develop its multi-chain wallet services.

Blocto’s multi-chain wallet service supports various networks including Aptos, Ethereum, Solana, Polygon, Flow, and BNB Chain, making it a convenient platform to access multiple decentralized networks. Users can easily interact with different blockchain systems through a single user-friendly interface while using Blocto wallets. This feature benefits a wide range of users – from individuals and investors to decentralized application developers and enterprises.

Mark Cuban, one of the investors of Blocto, is an entrepreneur and business magnate known for his investments in various technology-based businesses. He has shown a keen interest in the cryptocurrency ecosystem and has previously invested in blockchain-based start-ups like CryptoSlam and Nifty Gateway. Cuban’s backing of Blocto is expected to bring further credibility and recognition to the company in the cryptocurrency market.

The recent investment by IPX and 500 Global also indicates the growing interest of institutional investors in the cryptocurrency sector. IPX is a blockchain-based protocol that offers an infrastructure for various decentralized applications, while 500 Global is a venture capital firm that invests in early-stage start-ups. This collaboration with Blocto reflects their confidence in the potential of multi-chain wallets and blockchain-based projects.

In conclusion, Blocto’s recent A-round financing reflects the growing interest in multi-chain wallets and blockchain-based ecosystems. With the support of prominent investors like Mark Cuban, IPX, and 500 Global, Blocto is expected to expand its services and further develop its technology. Blocto’s multi-chain wallet service, currently supporting several networks and cryptocurrencies, is likely to benefit many users and developers within the cryptocurrency ecosystem.

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