Draper Associates has invested in Xverse, a self-custodial Bitcoin wallet developed by the Hong Kong-based company Secret Key Labs. The firm added the project to its portfolio by July 2026, aiming to support the expansion of onchain banking services for the platform's nearly 2 million users.
Xverse, led by CEO Ken Liao, operates as a mobile application for iOS and Android, as well as a browser extension. The platform provides financial features including yield generation through staking protocols like Stacks, borrowing stablecoins such as USDC against Bitcoin collateral, and facilitating payments across various Layer 2 networks.
The company previously secured $5 million in a seed round led by Jump Crypto in August 2023. As of mid-2026, the total funding for Xverse is estimated to be between $9 million and $12 million. The project relies on infrastructure including Stacks, Starknet, and Spark to enable its financial services.
The wallet maintains a self-custody model where private keys remain on user devices. This approach distinguishes the service from centralized exchanges, though it places the responsibility of asset security entirely on the user. The platform continues to focus on integrating banking features while leveraging Bitcoin Layer 2 developments.
