Bitcoin (BTC) technology company JAN3 has announced raising $5 million in seed funds, which will be used to develop and expand its AQUA Wallet. Tether (USDT) and Fulgure Ventures are among the investors supporting the company's initiative to expand Bitcoin's use cases and help integrate the crypto with Layer 2 solutions.
According to JAN3's project blueprint, the company aims to create an accessible financial service and tool. It highlights its AQUA Wallet, which enables users to hold Tether and Bitcoin on Later 2 solutions, allowing them to directly manage these digital assets. As a result, holders can enjoy cheaper and faster transactions, which helps address the BTC scalability issue.
In addition to the wallet, the company plans to integrate other financial services, including loans, card payments, and the ability to buy and sell BTC options, to meet everyday needs. Notably, JAN3 is currently working with the El Salvador government to develop its Bitcoin City and boost its digital financial systems.
This project showcases Bitcoin's increasing role in the Latin American economy, where many people still lack access to essential financial services.
Tether, Lightning Ventures, Fulgur Ventures, and Grupo Salinas are among the companies participating in JAN3's seed round. In a statement, JAN3 expressed gratitude for these companies' participation, highlighting how their support underscores the growing significance of the premier digital asset.
Representatives from the participating companies also shared their enthusiasm and satisfaction with the project. Fulgur Ventures' Oleg Mikhalsky stated that they are thrilled to support JAN3's vision for the future of Bitcoin. He emphasized their optimism about the project, which they believe will enhance the adoption of Bitcoin and the Liquid Network ecosystem.
Within the same blog post, JAN3 mentioned that they are not merely seeking capital but partners who share their mission and can contribute to their expansion plans in Asia and Latin America. Grupo Salinas, the partner in Latin America, is the same group that controls TV Azteca, Elektra, and Banco Azteca.
Meanwhile, East Ventures is JAN3's partner in Asia. The company, which invests in Japan and Indonesia, is assisting in boosting Bitcoin adoption throughout the region. Together with these regional companies, JAN3 also collaborates with Tether, combining its AQUA Wallet's functionality with Tether's network to bring digital assets and financial inclusion to a broader population.
