NEW: Crypto wallet startup pinestreetlabs raised $6 million to build a better enterprise wallet. realDannyNelson reports
Upstart crypto infrastructure company PineStreetLabs is trying to build a better business wallet with $6 million in funding from Polychain Capital and other top crypto venture capital firms.
Gregorius says his solution is a non-custodial crypto wallet API to let businesses plug and play across 12 different blockchains. Pine Street Labs’ five person team takes care of the complex tech tuning – optimizing for staking in the Cosmos ecosystem, perhaps – so its novice clients won’t have to. The pair formed Pine Street Labs earlier this year after tackling some grant work building wallet infrastructure for Aleo and Umee. Gregorius said they realized there could be a niche for easy-to-use crypto wallet software that services multiple blockchains.
Their own time deep in the crypto ecosystem’s business trenches helped direct the mission, Gregorius said. Firms such as Andresseen Horowitz and CoinList may be well-suited to scale their operations across multiple chains, but novice businesses don’t always have that luxury. And as businesses, they can’t just turn to browser-based solutions.
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