Reown has completed a $13 million Series B funding round, with Union Square Ventures (USV) and 1kx leading the investment.

BlockBeats News, January 15th, Web3 communication protocol Reown (formerly WalletConnect) announced the completion of a $13 million Series B funding round. This round was led by Union Square Ventures (USV) and 1kx, with participation from Global Digital Asset Holdings (a joint venture investment company established by SC Ventures and SBI Holdings), Shopify Ventures, Kraken Ventures, Crypto.com Capital, Figment, Kiln, Everstake, BitGo Ventures, and Fenbushi.

As of now, the company has raised a total of $38 million. The new funds will be used to build its SDK - Reown AppKit and Reown WalletKit - to further develop the on-chain user experience platform, addressing issues such as using encrypted subscription payments without the need for custodial accounts. Its encryption solution clients include the financial infrastructure platform Stripe and gift card giant Raise.