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Cryptocurrency wallet Ethos Wallet will spend part of the funds from the investment round to support the Sui blockchain
Ethos Wallet has raised $4.2 million in funding from Boldstart Ventures and gumi Cryptos Capital. Fortune writes about this with reference to the founder of the project, Nadya Eldeib.
The project was also supported by Mysten Labs, Tribe Capital, Matrixport, Charge Ventures, Builder Capital, Alliance DAO, and CoinShares Head of Strategy Meltem Demirors. According to her, Ethos Wallet will spend part of the funds to develop the team and create a mobile application for storing cryptocurrencies.
Another part of the capital will go to support the Sui blockchain, founded by people from Meta (recognized as extremist by the Russian authorities and banned in the country). In particular, Ethos Wallet will send money to develop the Sui 8192 blockchain application, which is an analogue of the 2048 mobile game. According to Eldeib, the introduction of blockchain games into the wallet will positively play on the popularity of the project among new users.
The investment boom around cryptocurrency wallets is starting to grow despite the crisis in the market. For example, it was previously reported that the decentralized protocol for the exchange of cryptocurrencies 1inch has developed a hardware wallet, the purpose of which is to provide cryptocurrency users with a secure device to store their assets.
A hardware wallet will be a physical device that is said to offer a secure way to store users’ private keys offline. It comes with an existing 1inch web wallet. The wallet is developed by an independent team working on the 1inch network.
Banks are also developing digital wallets, but without the support of cryptocurrencies. For example, the media previously found out that the largest US banks, including Wells Fargo, Bank of America and JPMorgan Chase, will develop a digital wallet for online shopping. The novelty is planned to be presented to the public in the second half of 2023. With the help of a digital wallet, banks want to compete with providers such as PayPal and Apple Pay, the newspaper writes, citing sources close to the development of the project.
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