Stackup, a platform designed for managing on-chain business operations, has raised $4.2 million in seed funding. Based in Los Angeles, the company, which previously developed account abstraction technology for Coinbase and Trust Wallet, aims to enhance its platform that offers businesses centralized control over decentralized assets. The funding round was led by venture capital firm 1kx, with contributions from Y Combinator and Digital Currency Group, among others. Co-founded by CTO Hazim Jumali and CEO John Rising, a former SpaceX manager, Stackup emphasizes the importance of safety in crypto. Rising recalls a tragic incident during his time at Virgin Galactic, highlighting the need for a focus on human safety alongside technical security. Stackup's account abstraction feature allows for programmable non-custodial wallets, enabling functionalities like easy wallet recovery and transaction reviews. The platform aims to prevent significant on-chain failures, drawing parallels to the high stakes of SpaceX launches, where financial losses can be substantial. Read more AI-generated news on: https://app.chaingpt.org/news