Argent, an Ethereum-based mobile crypto wallet that promises non-custodial wallet security and user independence, raised $40 million in a Series B funding co-led by early-stage venture capital firms Fabric Ventures and Metaplanet Holdings. The Argent wallet backup uses “guardians,” which can be in the form of a hardware wallet, a third-party service, or a human who can authorize account recovery or untrusted transactions. The Argo product is designed to allow users to acquire and stake cryptocurrencies for a fraction of the cost of rival wallets. Staking ETH can yield users up to 5%, while USDC and DAI can earn up to 15%. Assets can be bought or sold with a credit card or bank transfer. Paradigm, Index Ventures, and Creandum were among the other investors in the round. Jump Crypto, Animoca Brands, and Starkware, the business behind the zero knowledge rollup network StarkNet, were also investors. Argent intends to use the funding to extend its geographic reach and product applications.
Argent Raises $40M to Make Crypto Wallets Easier to Use