The cryptocurrency wallet Fordefi has successfully attracted investments totaling $10 million, marking a significant step in the company's development. Leading this funding round is Electric Capital, underscoring the trust and interest in Fordefi's technology advancement. The funds will be allocated towards the development of a new product, representing a "Wallet as a Service" (WaaS) offering, enabling the integration of Fordefi's solutions directly into partner applications, including cryptocurrency exchanges. This marks the second investment round for Fordefi, with the previous one successfully closed in November 2022, raising $18 million.

Fordefi is engaged in the development of an autonomous cryptocurrency wallet using Multi-Party Computation (MPC) technology, which has already processed transactions worth over $3 billion. The company positions itself as an infrastructure provider and a Web3 gateway for traditional companies, aiming to facilitate the integration of cryptocurrency technologies into their operations.

The contribution from Electric Capital and other participants in the round, such as Paxos and Alchemy, underscores the importance of developing secure and convenient solutions for storing and managing cryptocurrency assets. The new funding round opens up new opportunities for Fordefi to develop and expand its offerings, which undoubtedly will have a positive impact on the entire cryptocurrency industry.