Crypso – a digital currency investing platform – has garnered an impressive $3 million in new seed funding. The round saw the participation of many of the crypto arena’s most prominent leaders including Hashed Emergent, Athera Venture Partners, Better Capital, Whiteboard Capital, and the founders of Polygon.
Crypso Gets a Lot of Money
Crypso says it’s planning to use the funds it’s received to boost its user base and increase the breadth of both its technology and products. Suraj Kalwani – co-founder and CEO of the company – explained in a recent interview:
With Crypso, we aim to bridge the discovery and transaction loop with a hook around guided crypto investing. Users can connect with peers and experts, follow their portfolio movements, and get updates on crypto trends and investing opportunities.
He also described the company as a “social asset class” that will allow young residents of India to better interact with digital currencies and come to terms with the technology that supports them. CEO and managing partner of Hashed Emergent Tak Lee also threw his two cents into the mix, commenting:
We look forward to backing Suraj and [his] team on their journey to build a user-friendly interface for Indian web3.0 users. We aim to support their initiative to build for the young Indian users who will potentially be the early ones to adopt crypto in India as we have seen across the globe.
It is intriguing to see new companies still thriving within the digital currency space given how weak prices have been during the past few months. Bitcoin, for example, has lost roughly 70 percent of its value since last November when it achieved a new all-time high of about $68,000 per unit. Overall, the digital currency space has lost more than $2 trillion in overall valuation, yet many digital currency projects thrive, suggesting the space has not lost its popularity.
Making Crypto Accessible to All
Crypso says it aims to connect new investors, experts, and investors through a single outlet that will allow traders to pick up new ideas and form their own hypotheses when it comes to which coins should be traded and which steps should be taken to grow one’s wealth and avoid risks. The company says it will unveil new educational protocols and even group chats to help them better understand trading strategies and make intelligent decisions.
One of the firm’s big goals is to simplify the notions of crypto and truly make the space accessible to anyone. Crypso initially wanted to help retail investors take advantage of the crypto arena, and within a month of launching, executives said they recorded a whopping 50,000 signups. They also brought more than 100 crypto influencers, creators, and assorted experts onboard to use the company’s apps and boost crypto trends and updates.