Zerion Raises $12.3 Million To Advance Building The Best Wallet For Web3

Web3 wallet Zerion has secured $12.3 million in investment to develop its solution, which seeks to simplify cross-chain identities, the firm said on Wednesday. Wintermute’s venture arm led the Series B funding round.

According to CEO and co-founder Evgeny Yurtaev, Zerion stresses making interoperability simple for daily usage of apps including decentralized finance (DeFi) and non-fungible currencies (NFTs). Yurtaev stated:

“Wallets are a core part of the Web3 experience, but the tools have not evolved for the challenges and complexity of the space and modern use cases. As the number of decentralized applications increases, it becomes more difficult for users to follow their footprint across chains, NFT collections, and DeFi protocols.

We believe that in an increasingly disparate Web3 space, wallets will become a dynamic place to track and manage it all, and Zerion’s industry-leading wallet will set the standard.”

Zerion, which began as a DeFi platform, has garnered over 200,000 monthly users since the public release of its wallet in May. It intends to assist users in transferring data across decentralized apps running on ten distinct Ethereum-compatible chains, including Arbitrum, Polygon, Fantom, and others.

To keep up with the rising industry of decentralized applications, several firms have created wallets. Unstoppable Finance raised over $13 million in August to develop an interoperable DeFi wallet, and Bitmark funded $5.6 million in July to develop an NFT wallet.

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