JAN3, the creators of the widely-used Bitcoin wallet AQUA, has secured $5 million in seed funding to expedite the development of their Bitcoin-centric super app.
The funding round, led by Fulgur Ventures, included participation from investors like Tether, Grupo Salinas, Lightning Ventures, East Ventures, and others, according to the company’s statement. This new investment builds on a pre-seed round in early 2023, where the firm raised $620,000.
“JAN3’s AQUA wallet has found excellent product-market fit by offering the perfect balance of saving in Bitcoin with spending in USDT,” said Paolo Ardoino, CEO of Tether.
The company revealed plans to allocate $1 million from the funding to create a Bitcoin treasury, acquiring 12 BTC at an average price of $83,333.33 per Bitcoin.
“The new seed funding will take AQUA to the next phase of its mission to onboard a billion people to Bitcoin,” the announcement states. “With the new funding, our priority will shift to growth and adding more Marketplace integrations, such as credit cards, loans, and local on/off ramps.”
The company announced the funding round on January 3, coinciding with the 16th anniversary of Bitcoin’s Genesis Block mining. The Bitcoin-focused app also integrates the Liquid Network, a Bitcoin sidechain developed by Blockstream, and provides native support for Tether’s stablecoin through this integration.
“We’ve managed to create a Bitcoin Superapp that’s able to deliver real utility and will be useful in daily life around the world,” said JAN3 CEO Samson Mow. “It just works, and it’s only going to get even better.”
By integrating advanced features like the Liquid Network and native support for Tether’s stablecoin, the company is reinforcing its commitment to innovation within the Bitcoin Ecosystem. As it continues to expand and evolve, JAN3 aims to empower users further and contribute to the broader adoption of Bitcoin and blockchain technology.
