đ¨ WalletConnect Secures $12.5M in Ecosystem Funding
WalletConnect, the leading Web3 communications protocol, has raised $12.5M in a new ecosystem funding round. The raise drew support from major players including Shopify, Coinbase Ventures, ConsenSys, Circle Ventures, Polygon, Uniswap Labs Ventures, Union Square Ventures, 1kx, HashKey, and Foresight Ventures.
đĄ Strategic Vision
This funding sets the stage for the launch of the WalletConnect Networkâa decentralized communications network built on the protocol. The goal: expand WalletConnect from a widely used connector into a core layer of Web3 infrastructure.
đŁď¸ Backing from Shopify
âWeb3 has unleashed a new age of internet-driven innovation,â said Hooman Mehranvar, Corporate Development Lead at Shopify. âWalletConnect is a building block in this growing ecosystem, and we look forward to collaborating with the team to help push commerce into the Web3 era.â
đ From Series A to Ecosystem Growth
This raise follows WalletConnectâs Series A round in March 2022, co-led by Union Square Ventures and 1kx, which helped accelerate its product pipeline and scale operations.
âď¸ WalletConnect in Action
Founded in 2018 by Pedro Gomes
Connects over 210 wallets and 450+ apps/services including MetaMask, Uniswap, OpenSea, Twitter, Stripe, and Plaid
Serves 157+ countries worldwide
Recently launched a new multi-chain protocol version
Integrated Fireblocks, giving users secure access to all dApps on Algorand
đ The Bigger Picture
WalletConnect has become a critical bridge for Web3, enabling seamless encrypted connections between wallets and apps across blockchains. With fresh funding and heavyweight partners, the protocol is set to expand its role as the backbone of decentralized communications.