Ballet, a crypto-wallet company founded by one of the pioneers of cryptocurrency exchange, Bobby Lee, announced that it had reached $21m in customer deposits across the globe.
The company was founded in March 2019 and launched its first Multi-currency Cold Storage Card in September 2019. The card is made of stainless steel, and allows users to control their cryptocurrency transactions with ease while keeping their money safe from hackers by virtue of being non-electronic.
Each cold wallet comes with a private key that is supposed to be kept safe at all times. The Wallet key allows users to make transactions as well as invest in different cryptocurrencies.
Ballet’s card comes in variants of host currencies like BTC, BCH, litecoin, etc. Customers can use the designated Ballet app (available in both Android and iOS versions) to work with any other cryptocurrency.
Founder Bobby Lee has been instrumental in developing physical denominations of cryptocurrency, right from making the first Bitcoin Mint (BTC coins) to creating an international Cold Wallet.
About reaching $21m, Lee said “We are excited about this milestone of $21 million in cryptocurrency being stored on Ballet wallets by our loyal customers worldwide, it’s great to see more and more people starting to trust Ballet as an easy, safe, and reliable cryptocurrency wallet. It’s the cryptocurrency wallet for the rest of us.”
Ballet raised a large principal seed of $3 million financings in 2019 led by Ribbit Capital. Ribbit Capital has also invested in Coinbase, Revolut, Robinhood, Xapo, and many other early-stage fintech companies.