Emily Walker
JAN3 aligns with tech firms and publicly traded companies to fully embrace Bitcoin and increase its usage. The company announced on its blog that it has successfully secured $5 million in funding, which will be dedicated to enhancing and promoting its AQUA Wallet.
With backing from well-known investors such as Tether and Fulgure Ventures, JAN3 is on a mission to broaden the potential applications of Bitcoin. Its goal includes addressing the challenges of crypto scalability while extending its reach, especially in areas with limited access to financial services.
The wallet investment signifies an increasing need for financial instruments related to Bitcoin. The initiative also emphasizes the significance of Layer 2 technologies, particularly the Lightning Network.
Financial Accessibility
JAN3’s project blueprint outlines its goal of creating an accessible tool for financial services. The company highlights the AQUA Wallet, which allows users to hold Tether and Bitcoin via Layer 2 solutions for direct management of these assets. This direct access can facilitate quicker and cheaper transactions, addressing Bitcoin’s scalability concerns.
Additionally, the wallet will incorporate services like loans, card payments, and options for buying and selling BTC, catering to everyday needs. Presently, JAN3 is collaborating with the government of El Salvador to enhance its Bitcoin City development and enhance its digital finance framework.
This collaboration with El Salvador signifies the increasing relevance of Bitcoin within the Latin American economy, where access to financial services poses significant challenges for many.
Tether and Fulgur Ventures Support JAN3 Seed Round
JAN3’s seed funding round has garnered interest from several prominent crypto firms, including Tether, Lightning Ventures, Fulgur Ventures, and Grupo Salinas. JAN3 expressed gratitude for their participation, emphasizing that their support underscores the rising significance of Bitcoin as a digital asset.
Participating firms voiced their enthusiasm for the initiative. Oleg Mikhalsky of Fulgur Ventures remarked on their backing for JAN3’s vision for Bitcoin’s future. He also expressed optimism about the project’s potential to enhance Bitcoin adoption and promote the Liquid Network ecosystem.
JAN3 Seeks Like-Minded Partners
In the same blog post, JAN3 clarified that they seek more than just financial investments. They are looking for partners who share their objectives to assist in their expansion efforts across Asia and Latin America. Grupo Salinas will help them in Latin America; this group also oversees TV Azteca, Elektra, and Banco Azteca.
In Asia, JAN3 collaborates with East Ventures, which is focusing on investments in Japan and Indonesia to foster Bitcoin adoption there. Along with these regional partners, JAN3 also works alongside Tether, aiming to combine the usability of its AQUA Wallet with Tether’s network to enhance access to digital assets and foster financial inclusion for a broader audience.
Image by Dall-E, chart by TradingView