Account Labs, the Singapore-based Web3 wallet solution provider, has on Thursday announced it has raised $7.7 million from lead investors Amber Group, MixMarvel DAO Ventures, and Qiming Ventures, among other participants.
The announcement comes alongside the launch of the firm’s first consumer-focused app, UniPass wallet, on Polygon, Account Labs said in a statement. According to the statement, the UniPass wallet app leverages account abstraction to enable users to set up and log in to a self-custody Web3 wallet with only a Google account, and top up with any Mastercard or Visa card, for a truly seamless and frictionless crypto finance user experience. Account Labs was founded in 2023 from the merger of Keystone (founded 2018) and UniPass (2021), to provide Web3 Account Abstraction solutions. Starting with the launch of the UniPass wallet app, Account Labs is utilizing the fundraising to drive the upcoming wave of mass crypto adoption through peer-to-peer (P2P) stablecoin transfers. Leveraging the existing high adoption rates in the region, UniPass wallet is focusing its app launch and testing phase in the Philippines, before quickly expanding to the wider Southeast Asia region, including Vietnam, Malaysia and Indonesia. Source: Technode Global
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