An Additional 15 Million USD Invested in Privy – Startup Building Crypto Wallet Infrastructure
Privy, a company providing cryptocurrency wallet infrastructure, has successfully raised 15 million USD in a funding round led by Ribbit Capital. Other major investors such as Sequoia Capital, Paradigm, BlueYard, and Coinbase also participated in this funding round.
With the new investment, Privy's total funding has exceeded 40 million USD, affirming its strong growth potential in the cryptocurrency wallet infrastructure sector.
Who Is Privy? What Are They Building?
#Privy is a startup specializing in providing cryptocurrency wallet infrastructure APIs. The company helps developers easily integrate on-chain functionalities such as:
✅ Buy, sell, and store cryptocurrencies
✅ Manage user data on the blockchain
✅ Support businesses in deploying crypto services
Privy's goal is to create a seamless and secure infrastructure system, allowing businesses without deep knowledge of blockchain to build crypto products.
Why Are Investors Pouring Money Into Privy?
📢 According to Privy, the next generation of businesses will leverage crypto infrastructure for development. But for that to happen, a platform is needed to help developers easily create safe and convenient experiences on the blockchain.
🔹 The crypto infrastructure still has many technical barriers that make access complicated. Privy aims to simplify this process, similar to how Stripe has done with traditional payments.
🔹 The participation of major funds like Sequoia Capital and Coinbase shows confidence in Privy's potential to expand the crypto wallet infrastructure.
The Future of Privy & Crypto Infrastructure
🔥 With new funding, Privy can:
📌 Expanding on-chain integration capabilities, making it easier for many applications to deploy crypto.
📌 Optimizing user experience, making buying, selling, and storing crypto more convenient.
📌 Enhancing security, ensuring the safety of data and assets on the blockchain.
👀 Can Privy become the "gateway" bringing millions of new users into the crypto world? Let's wait and see! 🚀
