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Zerion Raises $12.3M to Facilitate Interoperable Web3 Identity
Originally a DeFi platform that released a Web3 wallet in May, Zerion now aims to make Web3 data and identity transition seamless across applications.
Web3 wallet company Zerion raised $12.3 million in funding to build out its product that aims to streamline cross-chain identity, the company said Wednesday.
The venture wing of crypto market maker Wintermute led the Series B.
STORY CONTINUES BELOW
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Zerion, originally a decentralized finance (DeFi) platform, has amassed over 200,000 monthly users since the initial release of its wallet to the public in May. It aims to help users take their data across decentralized applications on 10 different Ethereum-compatible chains, including Arbitrum, Polygon and Fantom, among others.
CEO and co-founder Evgeny Yurtaev told CoinDesk that Zerion prioritizes making interoperability simple for daily use of applications surrounding decentralized finance and non-fungible tokens (NFTs).
“Early crypto wallets were not really suited for the ever-changing use cases and like-emerging use cases that we've started to see,” Yurtaev said. “We've released the wallet because we've seen this as an opportunity for improving on the general UX of existing wallets.”
Other companies that have released wallets to keep up with the growing market of decentralized applications. In August, fintech firm Unstoppable Finance raised almost $13 million to build out an interoperable DeFi wallet and in July, startup Bitmark raised $5.6 million to build out an NFT wallet.
Read more: DeFi Mobile Wallet Railway Wallet Launches
Cam Thompson
Cam Thompson was a Web3 reporter at CoinDesk. She is a recent graduate of Tufts University, where she majored in Economics and Science & Technology Studies. As a student, she was marketing director of the Tufts Blockchain Club. She currently holds positions in BTC and ETH.
