Further Ventures, a venture capital firm backed by Abu Dhabi’s sovereign wealth fund (ADQ), has made a significant move in the digital asset space by leading a $16 million investment round in Dfns, a Paris-based startup specializing in crypto wallet technology. This investment marks a notable step in the growing interest and activity in crypto-related tech as digital-asset dealmaking accelerates.
The Investors Behind the Round
In addition to Further Ventures, the funding round also saw participation from several other high-profile investors, including Wintermute, a market maker in the crypto space, Motive Partners, Bpifrance, and Motier Ventures, the family office of the owners of Galeries Lafayette. This diverse mix of investors highlights the increasing recognition of the potential of blockchain and crypto technologies, particularly in relation to financial services.
Dfns’ Technological Offering and Future Plans
Dfns, founded in 2020, has developed a unique technology that simplifies the creation and management of digital asset wallets. This technology is tailored to meet the needs of large companies—especially those in the financial services sector—allowing them to integrate secure crypto wallets into their applications and operations.
The company aims to leverage the new funding to expand its offerings, particularly among financial institutions such as banks and crypto trading platforms. Clarisse Hagège, CEO of Dfns, expressed the company’s intention to grow its business, noting the increasing appetite for digital assets among major financial players. With the crypto-friendly agenda of U.S. President Donald Trump, Hagège sees this as the right moment to accelerate Dfns’s growth, particularly with an expanding demand from financial institutions.
Expanding Reach and Strengthening Presence
Dfns is positioning itself to capture the growing demand for crypto wallet solutions by offering secure and scalable technology that allows institutions to embed wallets within their infrastructure. This is particularly relevant as banks are increasingly looking to enter the crypto space, either by engaging in spot crypto trading or by launching digital assets such as stablecoins.
As large financial institutions prepare to increase their involvement in digital assets, Dfns is well-positioned to be a key player in enabling this transition. Its existing clientele includes notable entities such as Fidelity International, Zodia Custody, and Bridge, the stablecoin company acquired by Stripe last year. The firm has already proven its capability to provide secure wallet management solutions to high-profile clients, with more institutions expected to follow suit in the coming years.
Workforce Expansion and Middle Eastern Growth
With the recent investment, Dfns is planning to expand its workforce, increasing its team from 25 to 35 employees. The company is also looking to expand its operations in the Middle East, a region that has shown increasing interest in blockchain and crypto technologies, thanks to regulatory environments that encourage innovation and adoption.
A Key Moment in Crypto Adoption
This investment comes at a critical time in the crypto industry, as traditional financial institutions are showing increased interest in digital assets. Dfns is poised to capitalize on this trend, helping banks and other major players securely manage crypto assets as they navigate the complexities of this rapidly evolving space. With the support of Further Ventures and other investors, Dfns aims to be a key facilitator in the financial industry’s embrace of blockchain and crypto technologies.
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