Cash Infusion: Crypto Company Argent raises $ 40 million in Series B funding round | news

• Argent’s crypto wallet works through the use of guards

• Argent raises $ 40 million in funding round

• Part of the money will finance the expansion to Latin America

Crypto-purse without a seeding

Most cryptocurrencies require users to remember or save a 12- or 24-word seed statement to access and manage their digital assets. However, the Ethereum-based crypto wallet Argent is the first digital wallet to work without a seeding. “Argent is built on the Ethereum blockchain. Your assets are stored on the blockchain and you control them through your Argent app. We can not access your assets. Nor can we prevent you from accessing them yourself,” the company explains on its own website. Securing the Argent wallet works through the use of “guardians” who can approve account recovery or unreliable transactions. These guardian accounts can be, for example, a hardware wallet, a third-party service, or a friend’s Argent wallet. In addition, Argent allows users to purchase cryptocurrencies for a fraction of the transaction or gas fees of other wallets.


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Successful Series B funding round

Argent announced on Twitter on April 28 that the company had raised a full $ 40 million in a Series B funding round. The financing round was led by early venture capital firms Fabric Ventures and Metaplanet. “We are building a single app for everything related to DeFi and Web3. Gaming, NFTs, DAOs and more,” according to the company plan. With the money raised, Argent plans to work on product development, hiring and expansion to Latin America.

Expansion to Latin America

In fact, the interest in the company’s services in Latin America is quite high. “Most of the crypto world is currently focused on speculation as its most important use case. What a man [in Lateinamerika] sees more need to move away from local currency, “explains CEO Itamar Lesuisse in an interview with Coindesk. The company can help users in Latin America avoid inflation and untrustworthy institutions, while giving them an easy and secure en Provide access to new economic opportunities. “We believe that the future of money and the Internet should be more open and fair. That everyone should have equal access to economic opportunities and that this brave new future is possible, “Argent tweeted.

E. Schmal / Editor

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