Bitcoin wallet Xverse raises $5 million from Franklin Templeton and others

Quick Take

  • Bitcoin web3 wallet Xverse has raised $5 million in seed funding.
  • Investors in the round include Jump Crypto, Franklin Templeton and Alliance. 

Xverse, a bitcoin wallet that supports ordinals inscriptions and BRC-20 tokens, has raised $5 million in a seed funding round.

Jump Crypto led the round, with Franklin Templeton, Sfermion, Alliance, NGC Ventures and several others participating, Xverse said Thursday. The Hong Kong-based startup started raising for the seed round a few months ago and it closed "very recently," founder and CEO Ken Liao told The Block. He declined to comment on the structure of the round and valuation.

The seed round brings Xverse's total funding to date to $6 million. It raised $1 million in pre-seed funding in 2021 when it was founded, Liao said.

Xverse has been a bitcoin wallet from the beginning and recently started supporting ordinals inscriptions and BRC-20 tokens when they were introduced earlier this year and gained traction. Bitcoin ordinals is a method of generating non-fungible tokens (NFTs) on the Bitcoin blockchain through a process called inscribing. BRC-20 tokens, on the other hand, are basically Bitcoin's version of Ethereum's ERC-20 tokens.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Looking ahead, Xverse also plans to support the Bitcoin Lightning Network that helps conduct faster and cheaper transactions. 

Xverse's funding comes amid a challenging funding environment this year. With the fresh capital, Xverse looks to expand its current team of 13 people by hiring mostly engineers, Liao said.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.


To contact the editor of this story:
Tim Copeland at
[email protected]