El Salvador-based digital infrastructure company, JAN3, has recently secured $5 million in seed funding to further develop 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 cutting-edge Bitcoin wallet that harnesses advanced Layer 2 scaling technologies like the Lightning and Liquid Networks, as well as on-chain Bitcoin, to offer users efficient and secure financial management capabilities.
CEO Samson Mow took to social media to announce the successful completion of the $5 million seed round, revealing that JAN3 has also established a corporate Bitcoin treasury by acquiring 12 BTC at an average price of $83,333.33 per coin. This strategic move underscores the company’s commitment to bolstering its Bitcoin-focused initiatives, with a particular focus on advancing the development of its Aqua super app.
Aqua Wallet serves as a bridge between Bitcoin savings and USDT spending, a feature that has garnered praise from Tether’s CEO, Paolo Ardoino. Ardoino expressed excitement over the app’s potential to seamlessly combine Bitcoin savings with the convenience of spending in stablecoin USDT, thereby promoting financial freedom on a global scale.
The newly secured funds will be allocated towards enhancing Aqua’s existing features, such as integrating credit cards, loans, and local on/off ramps. The app already supports the Liquid Network, a Bitcoin sidechain developed by Blockstream, and boasts native integration with Tether. Aqua’s ultimate goal is to onboard a billion individuals to the world of Bitcoin.
In addition to the success of Aqua, other Bitcoin-focused initiatives are also making waves in the industry. Lava, a Bitcoin lending platform, recently closed a $10 million Series A funding round, enabling users to borrow dollars against their Bitcoin holdings and addressing the challenges faced by crypto investors seeking to leverage their assets. Meanwhile, Bitgo introduced institutional-grade Bitcoin staking, offering clients the opportunity to earn returns while maintaining full custody of their assets.
As Bitcoin continues to gain traction in the financial landscape, JAN3’s Aqua app and other innovative initiatives are poised to play a crucial role in advancing the adoption and utility of this groundbreaking digital currency.