WalletConnect secures $12.5 million in an ecosystem funding round

Web3 communications protocol company WalletConnect raises $12.5 million in ecosystem round with participation from Shopify, Coinbase Ventures, ConsenSys, Circle Ventures, Polygon, Uniswap Labs Ventures, Union Square Ventures, 1kx, HashKey, Foresight Ventures and more. announced that it had been procured.

WalletConnect is pleased to announce that it has raised $12.5 million in an ecosystem round aimed at driving the next evolution of growth.https://t.co/Ea7F392KD5

WalletConnect (@WalletConnect) November 3, 2022

According to a press release released to CryptoSlate, the recent ecosystem round lays the groundwork for the development of WalletConnect, forming a strategic partnership to establish the WalletConnect Network, a decentralized communications network based on the WalletConnect protocol.

“Web3 has unleashed a new era of Internet-driven innovation,” said Hooman Mehranvar. Corporate development lead for Shopify. WalletConnect is the building block for this growing space. Ecosystem and look forward to working with the team to push commerce westwardeb3 era.

The recent funding round is WalletConnect’s Series A round Last March, Union Square Ventures and 1kx jointly led the effort to accelerate the product pipeline and scale the company.

Recent Developments from Wallet Connect

In 2018, Pedro Gomes founded WalletConnect to establish an encrypted connection between any two parties on any blockchain. The protocol integrates 210+ wallets and 450+ apps and services, including MetaMask, Uniswap, OpenSea, Twitter, Stripe, Plaid, and more. Additionally, the platform serves over 157 countries and connects to web3 wallets and apps.

Recently, WalletConnect also released a new version of its protocol that provides access to multiple blockchains. As a first step, the protocol recently integrated his Fireblocks into its platform, allowing Fireblocks users to securely and efficiently access all dApps built on Algorand through its platform.

access to #DeFi upon @Algorand is now available on Fireblocks! Fireblocks users can now securely and efficiently access all dApps built on Algorand. @WalletConnect. Continue reading https://t.co/vNCPf57KO2 @jasonleecj $ALGO pic.twitter.com/ug1kFMNxq3

Fireblocks (@FireblocksHQ) August 17, 2022