Taiwan-based regulatory technology (RegTech) developer and non-custodian (DeFi/NFT) wallet provider KryptoGO has raised a total of US$3 million in its recently concluded seed funding round.
The round was participated by global venture capital firm Hive Ventures, alongside other VCs including Taiwan’s National Development Council, Red Building Capital, AVA Angels, New Economy Ventures, Hao Fong Investment and Pegatron Venture Capital.
The funds will be utilised by KryptoGO to expand its market presence in the United States, in addition to growing its team and launching new product features later in the year.
Founded in 2019, KryptoGO aims to empower financial institutions and individuals by establishing a more secure and transparent environment for managing crypto assets and decentralized applications (DApps) operating in the Web3 ecosystem.
The company uses natural language processing technology equipped with a comprehensive global anti-money laundering database and artificial intelligence (AI) systems that enable cross-comparison of anti-money laundering data and other risky behavior.
KryptoGO also recently launched its flagship KryptoGO Wallet, a decentralized cross-chain wallet with financial identity verification and DeFi asset management functionality.
Leveraging the company’s unique cross-chain technology, KryptoGO Wallet ensures that its users can integrate and manage cross-chain assets on a single platform and identify favourable DeFi investment opportunities across a multitude of chains in DeFi, all while ensuring data security.
“Decentralised finance is gaining strong momentum in today’s financial ecosystem, but its digital complexities and growing ecosystem of chains and DApps have also shone light on the need for a simple, unified and trusted gateway into the world of Web3 for institutional and entry level users alike,” said Yao-Wei “Kordan” Ou, CEO of KryptoGO.
“This is where we come in. With secure, compliance-based technologies that are trusted by financial institutions, our users will enjoy an environment conducive to obtaining, managing, and growing their crypto portfolio, all while being in compliance with regulations of traditional and decentralised finance.”