Fedi Inc. on Tuesday announced that it had raised $4.2 million in a seed round as the company seeks to onboard more users onto Bitcoin with the Fedi app, per a statement sent to Bitcoin Magazine.
The application, which the company expects to begin rolling out in Q1 2023, will provide a user interface for Fedimint, an open-source protocol that leverages federated Chaumian Ecash mints to decentralize bitcoin custody and enhance the scaling capabilities of the currency.
“Fedi and Fedimint will help put monetary power back into the hands of everyone, everywhere,” said Fedi Inc. co-founder and CEO, Obi Nwosu, in a statement. “This creates brighter futures for billions and especially for those struggling under oppressive regimes, which ultimately makes the world a better place.”
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