Account Labs Raises $7.7 Million Pre-A Funding to Launch UniPass: A New Self-Custodial Crypto Wallet Targeting Southeast Asia's Freelance Workers

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Account Labs Raises $7.7 Million Pre-A Funding to Launch UniPass: A New Self-Custodial Crypto Wallet Targeting Southeast Asia's Freelance Workers

The collapse of the FTX empire revealed the risks associated with centralized crypto wallets, leading users to seek self-custodial wallet solutions. Account Labs, a player in the crypto wallet space, has secured a $7.7 million Series Pre-A funding round, led by investors from the web3 and established internet tech arenas. In response to new user demands, Account Labs aims to offer a combination of asset control and user-friendly interface with its UniPass wallet. UniPass plans to target Southeast Asia, starting with Filipino freelance workers, by leveraging the speed and low fees of the Polygon blockchain network. Unlike traditional remittance options, UniPass allows users to instantly transfer funds with lower transaction and forex fees. While currently focusing on user growth, the wallet may consider monetization through ad-based free transfers in the future.