A Dallas-based company is looking to bring Bitcoin to the masses with a programming interface that can bridge cryptocurrencies with mainstream finance.
Zabo has just completed a $2.5 million round of funding. The startup is targeting traditional banks and financial services by enabling companies to connect to users’ cryptocurrency wallets in a few lines of code.
The team at Zabo says its goal is to bring crypto into mainstream financial services.
The funding round was led by seed-stage venture capital firm Moonshots Capital. Several crypto and blockchain industry heavyweights participated in the fundraise including Blockchange Ventures, Castle Island Ventures, Digital Currency Group, CoinShares, Tezos Foundation and Capital Factory.
Says Christopher Brown, co-founder at Zabo,
“Despite being on a path to touch billions of customers and be an asset class measuring in the trillions of dollars, cryptocurrency is very underserved relative to other financial services. This is partly because connecting cryptocurrencies, wallets, and exchanges to the traditional financial system is highly technical and complicated. Zabo solves this by dramatically reducing the complexity. We enable leading financial services companies to swiftly and easily integrate into hundreds of leading cryptocurrency wallets with just a few lines of code.”
Zabo launched in September 2019 to connect the fragmented space of crypto wallets, accounts and protocols. Last year it launched Papercrypto, a risk-free, crypto-portfolio simulation to help newbies “demystify, derisk, and devour cryptoconfusion.”
The Dallas-based startup says it’s working to re-imagine the current financial infrastructure by cooperating with teams of developers across a full range of sectors.
Zabo Use Cases
- Personal financial tracking
- Investments
- Digital banking
- Tax software
- Decentralized finance (DeFi)
- Rewards
- Cryptocurrency exchanges
- Insurance
- Identity
The company lists integrations with 14 leading cryptocurrency exchange: Binance, Bittrex, Bitfinex, BitMEX, Bitstamp, Coinbase, Gemini, HitBTC, Huobi, Kraken, Kucoin, Liquid, OKEx and Poloniex.
Zabo plans to use the investment to expand its engineering and to grow its customer base.
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Featured Image: Shutterstock/mervas
