Decentralized Wallet Developer Odsy Network Raises $7.5M at $250M Valuation
Odsy Network, a layer 1 blockchain, raised $7.5 million to fund development of decentralized crypto wallets. The funding round valued the firm at $250 million and was led by Blockchange Ventures with the participation of firms including Rubik Ventures, Node Capital and FalconX, according to an emailed announcement on Thursday.
Odsy Foundation, a Zug, Switzerland-based organization working to promote the network's adoption, said its goal is to "decentralize access control in Web3," to mitigate the requirement for users to have multiple wallets to access different networks and applications, thereby removing an obstacle to wider adoption. Odsy's decentralized wallets (dWallets) are designed to provide access to different Web3 protocols and platforms through "transferable signing mechanisms" on the Odsy Network with the ability to sign transactions on "practically any other blockchain."
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