XDEFI Secures $6 Million in Funding, Teases DeFi-Era Wallet Release

XDEFI, a new-gen cross-chain browser wallet for cryptocurrencies, has successfully completed its strategic funding round.

XDEFI secures $6 million, high-profile VCs are onboard

According to the official announcement by its team, XDEFI browser wallet raised a total of $6,000,000 from venture capitalists and angel investors.

? Proud to announce our most recent investment round totaled $6 million with participation from @mechanismcap, @defiancecapital, @sinoglobalcap, @animocabrands, @morningstar_vc, @coingecko and @alamedaresearch. 1/3 pic.twitter.com/aJ4ht1DbEk

— XDEFI Wallet (@xdefi_wallet) September 29, 2021

The round was led by VC heavyweight Mechanism Capital. Also, DefiAnce Capital, Alameda Research, Sino Global Capital, Animoca Brands, Morningstar Ventures and CoinGecko supported XDEFI with their funds.

Darren Lau, Mark Zeller and Mariano Conti took part in this round as angel investors.

Mechanism Capital general partner Andrew Kang stresses the importance of XDEFI progress for the entire decentralization sphere:

The crypto landscape has gone through immense change in the last year through the explosion of DeFi, NFTs, and Multichain ecosystems. We are excited to back the XDEFI team, which built a beautiful product for users to take full advantage of the true Web3 experience.

XDEFI promotes itself as the most advanced rival of mainstream browser non-custodial wallet MetaMask.

More blockchains to be added

With the new funds, XDEFI will continue its expansion to new blockchains. Alongside the advancement of its recent Ethereum- and Thorchain-based modules, XDEFI will integrate Terra (LUNA) and Solana (SOL).

Since its introduction in Q3, 2020, the XDEFI team increased its contributor number sixfold and onboarded 20,000 users of the plug-in.

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XDEFI Wallet CEO Emile Dubié emphasizes the focus on speed and UX/UI improvements of his product:

In DeFi and NFTs, speed is alpha. The faster you can get into a mint, the faster you can move across chains, the faster you can sign a transaction - these things determine your ability to seize an opportunity or not. XDEFI Wallet has been built to give DeFi users a speed edge.