Draper Associates has invested in Xverse, the self-custodial Bitcoin wallet that now positions itself as a Bitcoin neobank. The company, based in Hong Kong and led by CEO Ken Liao, serves nearly 2 million users. It offers three main services: yield through Stacks staking, borrowing of stablecoins like USDC against Bitcoin collateral, and stablecoin payments across Bitcoin’s base layer and several Layer 2 networks. Xverse’s total funding is estimated at between $9 million and $12 million as of mid-2026, following a $5 million seed round in August 2023 with participation from Jump Crypto and Franklin Templeton. Draper Associates, which has advocated for Bitcoin since 2011, aims to accelerate the expansion of Xverse’s onchain financial services.
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