dWallet Labs, a cybersecurity company specializing in blockchain technology, has raised US$5 million in pre-seed funding led by Node Capital and Digital Currency Group (DCG), the company said in a statement.

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Fast facts

  • The funding round also included investors Amplify Partners, Lightshift Capital, Liquid2 Ventures, among others, alongside founders and angel investors from Coinbase, and others, the statement said.
  • The funds will be used for building protocols and projects on top of the Odsy network, a secure and programmable decentralized access control layer for Web 3.0.
  • The dWallet concept will transform how digital assets are stored, used, accessed, and connected to the real world by adding a fully decentralized layer of access control, the company said.
  • This will provide new possibilities including multi-chain DAOs (decentralized autonomous organizations), granular access sharing, and interoperable infrastructure for DeFi, the statement said.
  • dWallets will also allow for a full transfer of their ownership, the statement added.

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