Crypto Wallet Giddy Raises $6.9M in Funding to Further Self-Custody Adoption

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Crypto wallet startup giddydefi raised $6.9 million in new funding, that saw participation by Fortnite co-creator Geremy Mustard. Aoyon_A reports

"Crypto users understand now, more than ever, that there are serious risks with a third-party holding their tokens for them," Giddy said in its statement."Crypto, at its core, is about taking back control of your finances and embracing financial freedom, but this cannot happen as long as the mainstream continues to rely on centralized, custodial, trust-based platforms.

"In Giddy's self-custody wallet, the private key to access user's fund is split and those individual shares are encrypted and stored across multiple locations controlled by the user, the company said. This ensures safety of the user's private key in case any shares are lost or compromised, since multiple shares are required for recovery., will let users recover their wallet even if they lose a recovery share by following a few steps.

 

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