Argent raises $40M, eyeing Mexico as the next target region

  • The London-based agency seeks to make it simpler for customers to handle its non-custodial pockets providing
  • A part of the funds shall be invested in initiatives round DeFi and Net 3
  • One of many co-founders famous that the agency intends to handle the scalability concern of its pockets

Argent, the agency behind the eponymous sensible pockets, on Thursday disclosed it had accomplished a Sequence B funding spherical that noticed it elevate $40 million. Two VC corporations Cloth Ventures and Metaplanet led the fundraising, which additionally had participation from Index Ventures, Creandum and Paradigm.

Animoca Manufacturers, Leap Crypto, and Starkware (creator of rival Ethereum-scaling resolution StarkNet) featured in strategic capacities. Price noting, StarkNet is the host of Argent’s pockets – Argent X. This explains the strategic collaboration.

Enlargement and growth objectives

The agency will use a fraction of the funds to develop its geographic attain and advance its product. Argent’s non-custodial crypto pockets is without doubt one of the standout choices within the house. The pockets permits customers to soundly maintain and securely switch their crypto belongings with out utilizing the traditional method that requires them to recollect their seed phrase.  

Prime on Argent’s new markets checklist is Latin America – a area which the agency has noticed rising curiosity. The enlargement on this doubtlessly rewarding hub will start with Mexico. As a part of its plans, Argent will even actively discover partnership alternatives particularly within the funds area of interest in addition to fiat on- and off-ramps.

The agency will usher in specialists to fill positions in varied departments, together with authorized, finance and treasury administration. It’s going to additionally put money into analysis by establishing a crew devoted to Layer 2 protocols.

Apart from geographical objectives, Argent additionally needs to enhance on its choices.

“We’ve solved the problem of safety in non-custodial crypto wallets, measuring up usability versus safety to create an easy-to-use product, now we’re centered on scalability. Now we have frolicked in transition constructing out our Layer 2 product as we see Argent as being an excellent app with hundreds of use circumstances,” one of many co-founders, Itamar Lesuisse, stated.

Significantly, the London agency needs to develop an all-encompassing utility that may have help for DeFi and Net 3 and NFTs.

“For each vertical, we are able to construct a crew that may discover and construct options. We wish the pockets to be the entry level for the way you uncover that world,” Lesuisse stated.

Lesuisse, who doubles because the CEO, particularly famous that Argent plans to be the ‘de facto pockets for gaming.’ Argent’s pockets, at current, lets customers maintain particular NFTs by leveraging connections to NFT buying and selling platforms.

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