Further Ventures led the successful completion of the $16 million Series A funding round in French crypto wallet technology firm Dfns.
This venture capital arm is firmly backed by Abu Dhabi’s largest sovereign wealth fund, ADQ.
According to the VC, the successful funding round welcomed new investors, including Motive Partners, Wintermute and Motier Ventures, alongside existing backers like White Star Capital, Hashed, Semantic, Techstars, and others.
Dfns to expand to UAE
Following the $13 million seed round in 2022, Dfns’s Series A funding three years later, positions the company to accelerate the global adoption of its multichain wallet APIs and infrastructure throughout 2025 and beyond.
The firm, which enables businesses to manage digital assets on blockchains, seeks to drive adoption across banks, neobanks, payment services, trading platforms, investment applications, tokenization projects, and government and corporate treasuries.
Moreover, it aims to fund administrators, with a strategic emphasis on the EU, UK, UAE, and US markets.
Five years after its launch in 2020, Dfns supports over 130 fintechs across every continent, including industry leaders like Fidelity, Bridge, Zodia Custody, ADQ-backed Tungsten Custody and many others.
Dfns shifts focus to institutional clients
The company has maintained an impressive 300 percent year-over-year growth since 2021 after it made a strategic upmarket move focusing on institutional clients.
Institutional investors are the key to crypto adoption as they control the lion’s share of global liquidity.
To meet their standards, Dfns built its foundation on security and zero trust principles, leveraging state-of-the-art technology to exceed expectations.
As blockchain assets grow in value, so do the risks and regulatory scrutiny surrounding them.
Therefore, Dfns positioned itself as the most secure blockchain wallet infrastructure to earn the trust of the leading institutions navigating the complexities of crypto and integrating it into the financial system.
