Aptos on Tuesday announced that it has raised $200 million. Founded by former Meta employees who worked on Diem, Meta Platform Inc’s abandoned digital currency project, Aptos says it aims to “create universal and fair access to decentralized assets for billions of people”.
The round was led by venture fund a16z crypto with participation from Multicoin Capital, Katie Haun, Three Arrows Capital, ParaFi Capital, Tiger Global, and others.
Palo Alto-based Aptos employs around 25 people. Chief executive officer MO Sheikh explained to Bloomberg Quint why he and co-founder Avery Ching decided to launch the startup, “We did not feel right that something like this couldn’t make its way to market despite all the work that we had done.”
“Over the past months we’ve talked with hundreds of developers, brands, and companies about their projects; there’s a lot to be excited about. They’re building next-gen social media platforms, rich NFT experiences, Web3 games, creator-first media and entertainment businesses, cheap and secure payments, DeFi-integrated fintech products, and so much…