Soul Wallet Raises $3M to Develop Next-Generation Ethereum Wallet Powered by ERC-4337
Soul Wallet, a startup founded by Jiajun Zeng, a former product manager at TikTok’s parent company ByteDance and Meituan, a Chinese on-demand services giant, has raised $3 million in seed funding to build a next-generation Ethereum wallet powered by the ERC-4337 standard.
The financing round was backed by Ethereum builders and supportive VCs, including Struck Crypto, Game7DAO, NGC Ventures, Dispersion Capital, Alchemy, Ankr, and Signum Capital, along with several angel investors such as David Hoffman and Ryan Sean Adams from Bankless; Kristof Gazso, the co-author of ERC-4337; Marc Zeller from Aave-Chan Initiative; Scott Moore from Gitcoin; Terence Tsao from Arbitrum; and Tim Beiko from Ethereum Foundation.
🎉🚀Breaking News: We’ve Raised $3M!🚀🎉 pic.twitter.com/Mnrq0ohzrG
— Soul Wallet (@soulwallet_eth) March 16, 2023
Soul Wallet aims to offer an online, self-custodial Ethereum wallet built on top of the ERC-4337 standard, which enables decentralized bundler service, simplified gas payment, improved transaction scheduling, and enhanced security features.
According to Zeng, the new wallet powered by the ERC-4337 standard will offer a better user experience compared to existing crypto wallets, and he compared it to the difference between Nokia and iPhones. Zeng believes that the wallet experience is the biggest bottleneck in accelerating the progress of the separation of state and the internet through Ethereum. The mission of Soul Wallet is to empower users to take control of their assets and identity while providing a safe and intuitive environment to explore the limitless potential of the Ethereum ecosystem.
Soul Wallet plans to donate 5% equity to express its appreciation to the ERC-4337 contributors, including Vitalik Buterin, Yoav Weiss, Dror Tiros, Kristof Gazso, and Liraz Siri. The company encourages more people to write EIP/ERC to improve Ethereum.
The private test version of the Soul Wallet will be live on Arbitrum next week, and more network support, including Optimism, Scroll ZKP, and Taikoxyz, is coming soon. Users can join the waitlist on the Soul Wallet website, http://soulwallet.io, to stay tuned for more updates on the progress of the company as it continues to shape the future of Ethereum with the support of its amazing community and partners.
In conclusion, the successful seed funding round of Soul Wallet, backed by Ethereum builders and supportive VCs, is a promising development in the Ethereum ecosystem. The new wallet powered by the ERC-4337 standard is expected to offer a better user experience, and the company’s mission to empower users to take control of their assets and identity aligns with the broader goal of decentralization.
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