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DeFi-based Wallet Ambire Raises $2.5M in Funding Round

CryptocurrencyDec 02, 2021 09:00AM ET
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DeFi-based Wallet Ambire Raises $2.5M in Funding Round

  • Ambire wallet raises $2.5 million in funding round.
  • LAUNCHHub Ventures led the funding event.
  • The company will use the fund to market the Ambire wallet for mainstream adoption.

Ambire — a DeFi-based crypto wallet has raised a whopping $2.5 million in a funding round program. The funding event was led by LAUNCHHub Ventures.

The company welcomed a fleet of live investments from major investment companies including Ascensive Assets, Metacartel Ventures, and Zee Prime. CEO Danish Chaudhry also participated specifically as an angel investor.

According to the announcement, the Ambire team will use the fund to refine and market the Ambire wallet at a deep glance. The company believes that doing this will wipe away all the inequalities that the crypto market has long cried for. Alongside this, they will use a big part of the money to expand the Ambire wallet team, incentivize platform integrations and also provide liquidity for their native token in DEXs platforms.

Ambire CEO, Ivo Georgiev said,

This endorsement of Ambire Wallet is incredibly gratifying for our talented development team, who have worked tirelessly on a wallet that brings defi exposure to the masses.

Right after what Ambire’s Georgiev said regarding how they are fully prepared to bring more blockchain-based innovations to the masses, additionally, LAUNCHHub Ventures’s founding partner Todor Breshkov also commented,

While there are a great many cryptocurrency wallets in the defi landscape, Ambire’s latest product has huge promise, appealing to both newcomers and DeFi veterans. Having already brought several impactful products to market, the Ambire team has our full faith and confidence.

To take a glimpse of its vast usability, the Ambire wallet allows users to invest in multiple DeFi protocols with a single click. This option makes Ambire appeal more innovative and friendly to beginners and advanced crypto users. On top of this, the wallet reduces gas fees on every transaction, according to the report.

With more strides on its features, users can even bypass the Ambire wallet KYC levels and register directly with email and password without facing challenges. The wallet uses batched transactions, trading optimizations, and Flashbots that are all available on the desktop. The team is also working to customize the wallet on portable mobile devices soon.

The Ambire decentralized autonomous organization (DAO) controls the DeFi-centric wallet. “The first governance token for a defi-focused wallet, $WALLET confers voting rights over changes to the proposal and the implementation of new protocols.”

Continue reading on CoinQuora

DeFi-based Wallet Ambire Raises $2.5M in Funding Round

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