FB pixel

Hard Yaka leads Universal Ledger’s $10M round for ID-first digital wallet

Hard Yaka leads Universal Ledger’s $10M round for ID-first digital wallet
 

South Carolina-based Universal Ledger, which has emerged from stealth mode, has closed a $10 million round to launch a digital wallet platform. The blockchain-based project aims to promote global access to U.S. dollar-backed assets within an identity-first, compliant and transparent platform.

Hard Yaka, a venture firm focusing on digital identity, fintech and web3, led. Founded by Greg Kidd, Hard Yaka has invested in 200 companies, including Coinbase, Ripple, Robinhood and Protocol Labs.

“The Universal Ledger heralds the day when anyone with a baseline identity can hold, send, and receive dollars safely and compliantly,” says Kidd. He is a former chief risk officer at the aforementioned Ripple. “Site and app developers can utilize Universal Ledger’s APIs to include balance payment functions in their offerings while minimizing their regulatory burden because risk and compliance controls are built directly into the ledger itself rather than maintained at the client or wallet level.”

The wallet-as-a-service provides developers and engineers with an API architecture to build wallets that facilitate global, real-time transfers of assets while meeting international compliance standards and local identity requirements.

It will be a licensed digital asset custodian, which ensures compliance with multiple jurisdictional regulatory environments. The platform will create and manage a digital token so that developers can build knowing the asset is fully backed against the American dollar.

Kirk Chapman, chief executive for Universal Ledge, has experience in payments, banking and fintech industries. He has served as head of strategy at Galileo and advisor to the CEO of SoFi.

Indicio recently received $3.5 million in funding led by Hard Yaka. The money will be used to promote adoption of its decentralized digital ID tech in finance, healthcare and travel.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News

 

Leidos wins $130M FBI contract to support CJIS biometric services program

The Federal Bureau of Investigation (FBI) has awarded Leidos a five-and-a-half year $129.7 million contract to support its Criminal Justice…

 

Deepfakes are testing the limits of American governance

Under the looming omnipresence of AI, the United States finds itself at a crossroads in determining how best to regulate…

 

Move in House to block state AI laws draws bipartisan fire; Senate support questionable

The U.S. House of Representatives this week passed a sweeping budget reconciliation package that includes a controversial provision that would…

 

Mom sues porn sites for noncompliance with Kansas age assurance law

You can mess with the law – but don’t mess with the moms who catch their sons in compromising acts….

 

Spike in first party fraud could presage raging storm of generative AI

The latest version of LexisNexis Risk Solutions’ annual Cybercrime Report shows what a release calls “a significant swing in the…

 

Digital ID, payments providers are trying to solve eIDAS ambiguities

The EU has been busy building a regulatory foundation for its European Digital Identity (EUDI), which will be offered to…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events