Squads Labs Raises $10M, Launches Fuse Wallet on Solana via TestFlight

Jun 10, 2024, 02:08 PM

Squads Labs, a Solana-based multisig protocol, has successfully raised $10 million in a Series A funding round led by Electric Capital. The funding will be used to further develop their smart account technology and products, which aim to make it easier for businesses and individuals to securely manage and own digital assets. As part of this initiative, Squads Labs has launched Fuse Wallet, Solana's first smart wallet, now available for public testing on iOS via TestFlight. The funding round also saw participation from Coinbase, Placeholder, and L1D among others. This development is expected to significantly impact the Solana ecosystem.