JAN3, a Bitcoin tech company founded by Samson Mow, has raised $5 million to make Bitcoin and Layer 2 technologies easier to use. Supported by major investors like Fulgur Ventures and Tether, the company plans to solve Bitcoin’s scalability issues and help expand its use, especially in areas with limited access to financial services.
JAN3 is a Bitcoin tech company founded by Samson Mow. It has raised $5 million in funding to make Bitcoin and Layer 2 solutions easier to use. The main investors in this round were Fulgur Ventures, Grupo Salinas, Tether, Lightning Ventures, and East Ventures.
The investment shows demand for more financial tools based on Bitcoin. On the other hand, it also underlines the importance of Layer 2 technologies, such as the Lightning Network.
Making financial services accessible with Bitcoin
The AQUA Wallet from JAN3 allows the user to hold Bitcoin and Tether (USDt) directly on Layer 2 solutions, so that they may manage it themselves. This makes transactions faster and cheaper, helping to fix some of the ongoing scalability problems of Bitcoin.
The company will add services like credit card payments, loans, and local ways to buy and sell Bitcoins to make it easier for consumption in daily financial transactions.
JAN3 is working in cooperation with the El Salvador government to help construct Bitcoin City and enhance the country’s digital systems. It is indicative of how critical Bitcoin has become in the plans of a country’s national economics, particularly in Latin America, where everyone accessing financial services remains a major challenge.
Grupo Salinas through its subsidiary Banco Azteca, supports these programs by targeting unbanked areas. East Ventures, the Southeast Asia expert, transfers its knowledge into another region that’s rapidly embracing digital financial tools. Hence, Bitcoin is the method to reduce financial inequality in areas where access to traditional banking is low.
A portion of Bitcoin reserve
A portion of the $1 million raised will be used to set up the Bitcoin Treasury. This treasury has 12 BTC acquired at an average price of $83,333 each. In this regard, the company evidently believes in its future value. In recent times, more companies are adding Bitcoin to their financial plan to protect their business against uncertain economic conditions.
The company’s efforts come at a time when Bitcoin is slowly breaking free from its speculative roots. In November 2024, the AQUA Wallet reported a remarkable $11 million in swap volumes, signaling an increasing demand for instruments that make Bitcoin a part of everyday life.
Using Layer 2 technologies, JAN3 aims to overcome the challenges that prevent the adoption of Bitcoin, thus making it accessible to users across the globe.
However, in general, much is still unknown about the adoption of Bitcoin. While the speed and the cost of the transactions are improved by the increase in the usage of Layer 2 solutions like the Lightning Network, its usage is still very low.
Funding and projects for JAN3 bring a big shift in the cryptocurrency world toward useful and inclusive uses. The company focuses on making Bitcoin easier to use and understand, which reflects how blockchain technology has changed its role in global finance.
As the industry grows, JAN3’s work shows how Bitcoin and Layer 2 solutions can change financial systems in places where traditional systems are missing.
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