Universal Ledger, a blockchain-based company that enables customers to build their own crypto wallets, has raised $10m through SAFE notes led by Hard Yaka. The company, which has not yet secured any customers, is targeting large financial institutions and governments and plans to tap into growing interest in crypto's use in remittances and central bank digital currencies. Universal Ledger is also tackling identity verification while allowing for some anonymity through a tiered verification system. The company's ecosystem will run on its own stablecoin, which will be backed 1-to-1 by the US dollar. Universal Ledger is seeking to be transparent to regulators and prove where funds are located, said CEO Kirk Chapman.
(By Lucinda Shen)
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