Bitcoin wallet HandCash secures additional funding as the protocol continues to make Bitcoin more accessible to everyone. Unbounded Capital and Two Hop Ventures were the venture capital firms involved in the funding round.
The HandCash Bitcoin Wallet has added a number of features to its digital wallet. For instance, users can now shop at over 250 retailers via egifiter.com. Besides that, the company managed to combine forces with Anypay, a payment service. Retail and online merchants now have a faster, more efficient, and safer checkout option.
Another feature offered by HandCash is the ability to make BSV transactions directly with the MoneyButton BSV wallet. It was made possible via a partnership they signed with the wallet, which eliminated third parties from the process. The result is a P2P system that is in line with Satoshi Nakamoto’s vision.
More Funding for HandCash
The innovative features have caught the attention of investors. Recently, an investment round in HandCash wallet was solidified by Calvin Ayre, Unbounded Capital, and Two Hop Ventures. The injection of capital will allow HandCash to grow its product offerings, and give the company the ability to employ more people.
According to Alex Agut, the CEO and co-founder of the company, it was amazing that they were talking about employment and investment at a time when the global economy was in despair. He said that it showed the strength of the BSV ecosystem and that funding, expansion, and use cases were growing daily.
What the Venture Capitalists Had to Say
According to Jan Smit, a partner at Two Hop Ventures, based in the Netherlands, they were impressed by the development of HandCash. He added that they were especially impressed by the fact that they were continuously improving and innovating. Smit said that HandCash was a great fit for their focus on BTC data managers and key managers, which were crucial to the development of the secure, user-focused next generation of the internet.
Zach Resnick, a Managing Partner at Unbounded Capital, based in the US, said that HandCash was an embodiment of the vision of Bitcoin. A fast P2P payment system offered users low transaction fees. He also noted that the HandCash team was always growing the wallet and they would soon be a market leader.
HandCash and the Future of Micropayments
HandCash is working towards a future where consumers and merchants rely on micropayments, which are in cents or fractions of cents. Because Bitcoin SV is scaling quickly, micropayments were quite easy to execute. The result was that huge transactions could be processed for a small fee. To send a BSV transaction, it will cost you about 1/40 of a USD cent. The feature will lead to new business models where users can earn micropayments for simple tasks online, which will reinvent the user experience.
Initially, HandCash was a user-friendly wallet for consumers. However, they expanded into the B2B sector after seeing the huge potential in the micropayments sector. The company is planning to offer its expertise and infrastructure to developers and businesses to make it easy to add micropayment functionality. For instance, they have an upcoming SDK called the HandCash Connect SDK, which will make it easy for developers to bake the Bitcoin SV blockchain on any platform.
While the value of BTC has grown significantly since inception, there is still a lot of room for growth. A majority of the global population has never used Bitcoin or heard of Bitcoin. By making Bitcoin more accessible for everyday transactions, HandCash is playing an important role in the mass adoption of Bitcoin. The recent injection of capital will help the company scale into new horizons.