Argent

Argent offers a DeFi smart wallet application built on Ethereum for users to buy, store, and send crypto, including the major DeFi coins. The company launched a Layer 2 version of its wallet in March 2022. Built on zkSync, an Ethereum-focused scaling solution, the new version will reportedly cut the fiscal and environmental cost of transactions made on its platform by reducing gas fees to a dollar and reducing carbon emissions by 95% per trade. Argent also offers an open-source, browser-based wallet named “Argent X” built on StarkNet, an alternative blockchain infrastructure.

As of April 2022, Argent reported that its app had more than 500,000 sign-ups.

Key customers and partnerships

In August 2023, the company partnered with Starknet to launch a startup incubator named Hito Studios. The companies earmarked “several million” in funding for a number of projects built on Starknets, Ethereum scaling infrastructure such as DEXs, derivative platforms, options, and lending services.

Funding and financials

In April 2022, Argent raised USD 40 million in a Series B funding led by Fabric Ventures and Metaplanet. The funds were earmarked to accelerate the company’s product development, which included adding functionality for crypto games, such as infrastructure for onboarding new players and signing in-game transactions. The remainder was to be used to build out Argent’s services in Latin America (starting in Mexico) and hire new employees across the legal, finance, and treasury management functions. Additionally, Argent planned to hire a research team focused on Layer 2 protocols.