The venture arm of the cryptocurrency exchange Binance announced strategic investments in the hardware-wallet maker NGRAVE.
As @cz_binance said, self-custody is fundamental human right.
This is why we’re making a strategic investment in and will be leading the upcoming Series A round of @ngrave_official, a hardware wallet and the 1st complete solution for self-custody.https://t.co/ySJcHGpoIm
— Binance Labs Fund (@BinanceLabs) November 21, 2022
Binance Labs will also lead the upcoming Series A financing round for NGRAVE.
«Security remains one of the biggest obstacles to cryptocurrency adoption. Self-custody wallets are among the most secure ways to store digital assets. With investments in NGRAVE we aim to continue supporting innovative startups that enhance user security», — said He Yi, head of the venture arm.
The co-founder and CEO of NGRAVE, Ruber Merre, outlined the team’s main goal: “to make the world of cryptocurrencies a safe place for everyone.”
Founded in 2018, the company developed the ZERO hardware wallet with a touchscreen, the LIQUID mobile app, and the GRAPHENE stainless-steel backup card.
Earlier, hardware-wallet makers Ledger and Trezor recorded a significant rise in device sales amid the FTX crisis.
In November, Binance CEO Changpeng Zhao called self-custody of assets “one of the fundamental human rights.”
In September, the hardware-wallet maker OneKey raised $20 million from Dragonfly, Ribbit Capital and other investors.
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