Crypto wallet startup Giddy has raised $6.9 million in funding from investors, including Pelion Venture Partners, Peak Capital Partners, Clarke Capital, and Fortnite co-creator Geremy Mustard.
The company plans to use the funds to further its strategy of promoting self-custody adoption through its recoverable self-custody smart wallet technology, which allows users to have control of their digital assets.
Giddy's self-custody wallet splits the private key to access users' funds and encrypts and stores individual shares across multiple locations controlled by the user. This ensures the safety of the user's private key in case any shares are lost or compromised, making it a more secure alternative to centralized, custodial platforms.
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