A new startup called Casa intends to become your new digital wallet, offering a secure way to store and make transactions with cryptocurrencies. Initially planned and launched with support for Bitcoin values, they wish to reach Ethereum still in 2018 and other alt coins later.
Casa, a six-month-old startup that assists customers securely shop cryptocurrencies, has launched its very first product and raised $2.1 million in new investment. Venture capital firms Lerer Hippeau, Compound and Enhance VC participated in the financing round.
Founder and CEO Jeremy Welch says Casa is “premium hodl software,” making use of the crypto community’s preferred term for buy-and-hold investing. Targeted at individuals who personal from $400,000 to $10 million in crypto assets, Casa is actually a digital wallet that calls for users to electronically sign 3 unique devices to move assets. Welch’s aim is always to make an less difficult way for buyers to manage their own private keys, the sets of numbers and letters that let you transfer cryptocurrencies. At launch, bitcoin will probably be the only crypto asset supported. Casa plans to add ether, the currency from the second-largest crypto network, Ethereum, within the second quarter of 2018. Other coins will stick to, Welch says.
Welch is actually a serial entrepreneur whose perform over the past ten years has ranged broadly from marketing technologies to an electric automobile charging startup. He helped organize a Bitcoin conference at Duke in 2013, and in 2016, he founded a home-sharing app. But as he watched the crypto markets soar last year and saw a lack of very good alternatives for consumers to store bitcoin, he decided to pivot his home-sharing startup to work on a crypto wallet option.
Storing cryptocurrencies safely is a challenge mainly because they’re able to be transferred so quickly. Criminals have exploited this feature in cities ranging from New York to Phuket, Thailand. And wallet technology hasn’t kept up with demand for virtual assets.