The Argentine startup founded in the UK has raised $ 4 million from Index Ventures, Creandum, Firstminute, Hummingbird and Mattias Ljungman (Atomico partner). The company is working on a product that it promotes as “the first smart wallet” for cryptocurrency and blockchain applications based on the Ethereum blockchain.
Argent’s mobile app for Android and iOS allows users to access their cryptocurrency assets as well as blockchain apps. According to Argent, the application is as secure as banking applications and does not require any technical knowledge to use. The startup hopes that the product’s ease of use will drive widespread adoption of cryptocurrencies and the blockchain in general.
“The challenge we set ourselves was to deliver the usability and security of the best banking apps, but without the bank,” said Julien Niset, Argent’s chief science officer and co-founder. “We wanted the user, not us, to have control. We have achieved this by building Argent into smart contracts, code embedded in the blockchain that cannot be tampered with. Our smart contracts allow users, for the first time, to recover their wallets without a paper backup, set daily transaction limits, and block fraudulent transactions. This makes Argent safer and easier to use than other wallets. “