Draper Associates backs Xverse to grow its Bitcoin neobank

Key Summary

Draper Associates has invested in Xverse, a self-custodial Bitcoin wallet that now offers onchain financial services, including yield, borrowing, and payments. Xverse aims to expand its services as Bitcoin's Layer 2 infrastructure matures, allowing users to keep their keys while earning, borrowing, and paying. The investment adds to Xverse's estimated $9-12 million funding and may lead to increased resources for its banking features and adoption of stablecoin payments across multiple networks.