Web3 Wallet Omni Raises $11 Million USD With MEXC Ventures’ Partnership
According to media sources, Web3 wallet Omni announced that it had completed an equity financing of $11 million USD at a valuation of $50 million USD in May this year. The investors included MEXC Ventures, a fund under MEXC, as well as the Spartan Group, GSR Markets, Eden Block, OP Crypto, and more.
What is Omni?
Omni used to be called Steakwallet and was founded by Serafin Lion Engel, Alex Harley and James Stackhouse. It has built-in liquidity and staking functions, and supports users to transfer tokens across chains.
At present, Omni has built smart contract middleware, which supports users to stake tokens through more than 20 protocols, and displays NFTs based on different blockchains on their mobile application. In the future, Omni will integrate into zkSync and StarkNet and more L2 networks.
“The primary hurdle that stands between users gaining access to the future of the internet, is ease of use. That’s why we built Omni: an incredibly easy-to-use Web 3 application that can do it all without sacrificing even a fraction of self-sovereignty,” Engel said in the announcement. “Especially after seeing the CeFi meltdown, we wanted to give users something that was as easy to use as CeFi, but 100% self-custodial and DeFi. And that’s what we’ve done with Omni.”
MEXC Ventures, affiliated to the cryptocurrency trading platform MEXC, is a diversified fund dedicated to digital assets, cryptocurrency and blockchain and other technology industries. It is committed to helping entrepreneurs and teams in their long-term development and success in the blockchain industry by providing professional consulting services, technical and financial support.
The investment manager of MEXC Ventures said: “The future of blockchain is an organic ecosystem where multiple L1s and L2s intertwin. The wallet is the first step in the user’s web3 experience, and it is like a transportation hub. Thus, its ability to interoperate with each chain and layer smoothly is very important. Omni caters to the needs of the market and makes up for the shortcomings of current competing products. From a user experience point of view, it allows users to manage assets and interoperate contracts on each chain more conveniently.”
At present, MEXC Ventures has invested in blockchain infrastructure, DeFi, NFT, GameFi and other sectors. It has invested in more than 50 blockchain projects including Avalanche, Mina, Qredo, Polkadot, Manta, Dorafactory, Raydium, and many more.
Company: MEXC Exchange