The post JAN3’s Bitcoin-Focused Super App Aqua Lands $5M in Seed Funding appeared first on Coinpedia Fintech News
JAN3, an El Salvador-based digital infrastructure company, raised $5 million in seed funding to accelerate the development of its Bitcoin-focused super app, Aqua. The funding round was led by Fulgur Ventures, with participation from Grupo Salinas, Tether, Lightning Ventures, East Ventures, Plan B Fund, Bitcoin Opportunity Fund, and NYDIG.
Aqua Wallet is a new Bitcoin wallet that utilizes advanced Layer 2 scaling technologies such as the Lightning and Liquid Networks, combined with on-chain Bitcoin, to provide users with efficient and secure financial management.
CEO Samson Mow took to social media and announced that JAN3 has successfully raised a $5 million seed round and established a corporate Bitcoin treasury, acquiring 12 BTC at an average price of $83,333.33 per coin. This strategic move is part of the company’s ongoing effort to strengthen its Bitcoin-focused initiatives, including the development of its Aqua super app..
Aqua bridges Bitcoin savings with USDT spending, and Tether’s CEO, Paolo Ardoino, expressed excitement over the app’s potential to combine Bitcoin savings with the ease of spending in stablecoin USDT, supporting financial freedom globally.
The newly raised funds will be used to enhance Aqua’s features, including the integration of credit cards, loans, and local on/off ramps. The app already supports the Liquid Network, a Bitcoin sidechain developed by Blockstream, and has native integration with Tether. Aqua aims to onboard a billion people to Bitcoin.
In addition to Aqua’s funding, other Bitcoin-focused initiatives are gaining attention. Lava, a Bitcoin lending platform, secured $10 million in Series A funding to enable users to borrow dollars against their Bitcoin holdings, addressing challenges crypto investors face in leveraging their assets. Meanwhile, Bitgo introduced institutional-grade Bitcoin staking, offering clients the ability to earn returns while maintaining full custody of their assets.