Wallet-as-a-service platform Dfns has raised a $16 million Series A funding, led by Further Ventures, part of the Abu Dhabi sovereign wealth fund, ADQ. It follows a seed round of $13 million in 2022. Existing investors participating in the round included Bpifrance, Hashed, Semantic, Techstars and White Star Capital. Other new investors are Motive Partners, Wintermute, and Motier Ventures (Galeries Lafayette Group).
Dfns boasts more than 130 clients in banking, custody, tokenization and trading. They include ABN AMRO, Digital Asset, Fidelity International, Stripe and a recent addition, Standard Chartered’s Zodia Custody.
Two years ago Dfns switched its focus to institutions, including fintechs and so far more than ten million wallets have been created using its technology. However, by crypto standards its figures are modest: it secures over $5 billion in assets.
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