Stackup, a digital asset management platform designed to streamline crypto operations for crypto businesses, announced that it has secured $4.2 million in seed funding. The funding round was led by 1kx, with participation from Y Combinator, Goodwater Capital, Soma Capital, Amino Capital, and Digital Currency Group (DCG).
Momentum: Along with the new capital, Stackup has launched a new direct banking integration feature that directly addresses the fragmentation between traditional and crypto operations. And businesses can now connect their bank accounts to their Stackup wallet, enabling seamless, non-custodial ACH transfers between their bank and wallet within their existing payment workflows. This addresses a critical pain point for companies forced to juggle between two parallel financial systems: traditional banking for crypto operations and separate crypto platforms for on-chain activity. Stackup’s solution creates a single system for all financial operations, without compromising control of your assets to third parties.
Stackup has also expanded its support blockchains to include Ethereum, Base, Arbitrum, Optimism, Polygon, Avalanche, and BSC. And this feature unlocks businesses operating across multiple blockchains. Previously, businesses were forced to manage separate wallets and manually bridge assets between chains, creating a process that was time-consuming and error-prone. Through Stackup, businesses can manage their multi-chain operations from one platform, moving assets seamlessly without external bridges or multiple wallet setups.
Evolution Of The Stackup Platform: The Stackup platform has undergone significant evolution since its inception in 2021. And the platform played a crucial role in building wallet infrastructure for major industry players like Coinbase and TrustWallet. This experience in enterprise-grade wallet infrastructure informed Stackup’s current model of providing a comprehensive digital asset management platform directly to businesses. Today, Stackup provides centralized control over decentralized assets, enabling businesses to manage every detail of their operations with ease.
How the funding will be used: This investment will accelerate the development of the Stackup platform, allowing the team to continue developing solutions that simplify crypto operations for businesses.
KEY QUOTES:
“Our mission at Stackup is to provide businesses with the tools they need to manage their digital assets with the same level of efficiency and control they expect from traditional financial systems. This funding gives us the ability to eliminate operational inefficiencies that have historically hindered the adoption and growth of this industry. We’re empowering businesses to streamline their financial operations and workflows, allowing them to focus on growth without compromising on security or control of their assets.”
John Rising, co-founder and CEO of Stackup
“Crypto businesses have largely struggled to address their operational needs due to the unique burden of managing assets on multiple chains. Stackup is addressing those critical pain points and enabling businesses to take control of their funds in one seamless, secure, and scalable platform.”
Nichanan Kesonpat of 1kx
