Cashmere builds and operates an enterprise wallet platform designed specifically for the Solana ecosystem, giving companies a secure, self-custody alternative to cold storage. Its product enables multisignature transaction approval, ensuring that multiple authorized wallets must sign before any assets can be moved, thereby eliminating a single point of failure. The service targets crypto hedge funds, NFT projects, gaming companies and well-known Web3 startups; the team notes that marketplace giant OpenSea signed up organically soon after launch. Cashmere positions itself as an ‘institutional-grade’ solution that remains practical for day-to-day treasury operations, contrasting with less convenient cold-storage hardware. Wallet security on Solana has become a heightened concern after recent hacks, which Cashmere cites as validation of its approach. The company intends to use its newly raised capital to expand its engineering team and roll out a premium product for larger institutions later this year. Founded roughly six months ago, it has already attracted a roster of high-profile crypto investors and customers, though revenue and user counts were not disclosed.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Aug 2022