Numio developers Solve Ethereum’s Slow Speeds and High Fees with Newly Funded Mobile App

Numio, a cryptocurrency payments and identity management startup, has successfully closed a $1.25m seed funding round. HashKey Capital led the round and were joined by LD Capital, Youbi Capital, Caballeros Capital, DVC, ZMT Capital, as well as angel investors including Suji Yan of Mask Network, and Cecilia Li, ex-investment director of OK Group.

The Ethereum blockchain has undergone explosive growth over the past 12 months, cementing its place as the leading network for decentralized finance (DeFi). While Ethereum’s growth is positive overall, it has resulted in high fees and slow transaction speeds.

Numio has developed a mobile application that removes these limitations by leveraging Ethereum’s Layer 2. The integration of technologies like zkRollups, from zkSync, means that transactions on Numio’s Layer 2 wallet are instant and ~100 times cheaper than standard Ethereum.

The Numio app was released in December 2020. It allows users to make payments, securely and access online platforms with a more secure form of two-factor authentication than offered by Google Authenticator. The application’s zkProof technology also allows users to prove their identity to a third party platform, without the need to send their identity documents. Numio is currently working with partners including PhoenixDAO and BTI Verified to secure their platforms.

New features currently in development are Layer 2 cryptocurrency trading, pooling, staking, eCommerce, and functionality for buying things at a store.

The money raised in this round will be used for continued user acquisition, further development of our DeFi roadmap, and for expanding the Numio team.

“Bringing a scalable and user-friendly Ethereum experience to all is at our core and this funding round allows us to take Numio to the next level”, said Numio Chief Technical Officer, Tim Allard. “Our Layer 2 focused app and extended roadmap is packed with the features and utility that our users demand, and we couldn’t be happier to have the support from our investors to help bring our vision to life.”

Lead investors, Haskey Capital, commented: “We are delighted to be an early investor in Numio. We were first attracted by their early adoption of zkRollups from zkSync, a Layer 2 solution that we appreciate greatly.

Numio is the first and only native wallet in the zkSync ecosystem. It is easy to log in, integrates Defi and on/off ramp functions and the barrier to using it is very low. Numio is the easiest way for users to access Ethereum’s Layer 2.

We see Numio as a company who are knocking on the door of mass adoption for decentralized applications.”

About Numio:

Numio gives you more control over your digital assets and your identity. Founded in 2020 with a vision to make crypto simple, Numio allows you to send cryptocurrency instantly, save up to 100x on Ethereum fees and verify your digital identity in a safe and secure way. Available on Android and iOS, Numio was the first zkRollup powered mobile payments app to be released on Google Play.

All Numio products are non-custodial, so only the account holder has access to their money.

To learn more visit https://numio.one/

Contact:Numio, Inc
hello@numio.one or joel@numio.one

Home

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 66,943.00
ethereum
Ethereum (ETH) $ 4,108.73
binance-coin
Binance Coin (BNB) $ 502.82
cardano
Cardano (ADA) $ 2.21
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.15
solana
Solana (SOL) $ 169.51
polkadot
Polkadot (DOT) $ 44.72
dogecoin
Dogecoin (DOGE) $ 0.252357
usd-coin
USD Coin (USDC) $ 1.00
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 66,943.00
ethereumEthereum (ETH)
$ 4,108.73
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 644.64
litecoinLitecoin (LTC)
$ 204.56
bitcoinBitcoin (BTC)
57.736,66
ethereumEthereum (ETH)
3.543,68
tetherTether (USDT)
0,862475
bitcoin-cashBitcoin Cash (BCH)
555,99
litecoinLitecoin (LTC)
176,43
bitcoinBitcoin (BTC)
48,696.68
ethereumEthereum (ETH)
2,988.83
tetherTether (USDT)
0.727435
bitcoin-cashBitcoin Cash (BCH)
468.93
litecoinLitecoin (LTC)
148.80

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021

Blockchain/Cryptocurrency Questions and Answers

ICo Presale
The Science Behind ICO Presales…
October 14, 2021
Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin66,682 0.59 % 6.08 % 18.37 %
Ethereum4,097.7 0.47 % 7.80 % 17.14 %
Binance Coin504.38 0.45 % 3.89 % 14.54 %
Cardano2.190 0.39 % 3.34 % 3.63 %
Tether0.9986 0.03 % 0.08 % 0.23 %
XRP1.150 0.08 % 5.73 % 3.97 %
Solana173.37 2.03 % 11.13 % 14.06 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2528 0.66 % 3.20 % 11.67 %
USD Coin1.000 0.14 % 0.20 % 0.17 %

bitcoin
Bitcoin (BTC) $ 66,943.00
ethereum
Ethereum (ETH) $ 4,108.73
binance-coin
Binance Coin (BNB) $ 502.82
cardano
Cardano (ADA) $ 2.21
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 1.15
solana
Solana (SOL) $ 169.51
polkadot
Polkadot (DOT) $ 44.72
dogecoin
Dogecoin (DOGE) $ 0.252357
usd-coin
USD Coin (USDC) $ 1.00