TechFlow news, according to the official blog, financial and data technology developer Fedi has completed a $17 million Series A funding round led by Ego Death Capital, with participation from TBD—Block's Bitcoin subsidiary—as well as Kingsway, Trammell Venture Partners, and Timechain. This brings Fedi's total raised capital to $21.21 million.
Fedi leverages the open-source Bitcoin custody protocol Fedimints, enabling developers to easily build additional applications and modules. The company's community or "second-party" custody model offers a secure alternative for third-party cryptocurrency exchanges, cloud backup services, and encrypted messaging applications. Fedi will pre-release an alpha version of its federated operating system to its builder community later this month.
