Xverse, a Bitcoin Web3 wallet, including NFTs through a method called Ordinals, has secured significant backing in its latest seed round.

The company raised $5m in a seed round that was led by prominent industry investor Jump Crypto.

Other participants in the round included RockawayX, Sfermion, Alliance, NGC Ventures, V3ntures, Old Fashion Research, 2140 Bitcoin Ecosystem Fund, Bitcoin Frontier Fund, Newman Capital, Franklin Templeton, New Layer Capital, Miton C, Gossamer Capital, Daxos Capital, Sora Ventures, Tyhke Block Ventures, IOBC Capital and Despread, among others.

Xverse offers a unique Bitcoin Web3 wallet, providing users with an extensive range of advanced features related to decentralized finance (DeFi), Stacks, Lightning, and other Bitcoin scaling solutions. The company also supports Ordinals, a cutting-edge method of generating NFTs on the Bitcoin blockchain, which has been making headlines in recent months.

The new funding will enable Xverse to accelerate the development of its advanced features, particularly in areas related to DeFi and Bitcoin scaling solutions such as Stacks and Lightning.

Last month, Ordinals, the method of generating NFTs supported by Xverse, received considerable attention after daily new inscriptions reached a staggering 350,000. The Xverse wallet is available on iOS, Android, and also through a Chrome extension.