DeFi Wallet Raised $40 Million And Focused On The Gaming Industry

Argent, a London-based startup competing to build a DeFi super-app, has acquired $40 million in a Series B fundraising round.

Fabric Ventures and Metaplanet, the investment firm founded by Skype co-founder Jaan Tallinn, spearheaded the investment. New strategic supporters Starkware, Jump Crypto, and Animoca Brands joined existing investors Paradigm, Index Ventures, and Creandum.

Argent’s efforts to support a larger range of DeFi and web3 initiatives will be aided by the cash

Co-founder and CEO Itamar Lesuisse said in an interview:

 “Argent still feels very finance-centric, and we want to play a big role in other NFT verticals — so NFT gaming, virtual real estate.”

Additional functionality for crypto games will be developed to realize that ambition, such as infrastructure for onboarding new players and signing in-game transactions. Argent users can currently store non-fungible tokens (NFTs) in their wallets via connections to marketplaces such as OpenSea.

Mexico is on the way

The funds will also be used to expand Argent’s services across Latin America, beginning with Mexico, where Lesuisse anticipates a lot of demand. Some funds will be used to employ in-house legal, finance, and treasury management skills, as well as a new research team focused on Layer 2 protocols, according to Lesuisse.

Argent is a financial “smart wallet” application built for DeFi that allows users to buy, store, and transmit cryptocurrencies. It was founded in 2017 and allows users to buy, store, and send bitcoin. Argent’s software has been downloaded by over 500,000 people, according to the business.

To reduce the cost and environmental impact of engaging with DeFi, the company released a new version of its crypto wallet in March based on zkSync, an Ethereum-focused scaling solution.

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