Cenoa, a blockchain-based non-custodial digital wallet, has completed a $7 million seed round of financing, led by Quite Capital and Underscore, with participation from Human Capital, Ulu Ventures, Acrew Capital and Collective Spark.

The new funding will be used to expand operations beyond its core products and into new markets in Latin America, Africa, Southeast Asia and Europe. In addition, the funds will be used to hire new employees.

According to reports, Cenoa aims to provide emerging market users with access to US dollar products and intends to add US dollar-based debit cards and instant remittances in the next 18 months. The company believes that its non-custodial savings solution based on blockchain technology reduces branch costs, intermediary fees and other inefficient procedures of traditional banking. (Tech Funding News) #Web3, #SHIB, #NFT