Draper Associates backs Xverse to grow its Bitcoin neobank

Draper Associates has invested in Xverse, the self-custodial Bitcoin wallet that now describes itself as a Bitcoin neobank. The goal is to expand Xverse’s onchain financial services. Draper Associates added Xverse to its portfolio by July 2026. It frames the product as a self-sovereign financial account built for people who hold Bitcoin. What Xverse actually does Xverse started life as a wallet. It runs on iOS, Android and as a Chrome extension, so it lives on your phone and in your browser. The company behind it is Secret Key Labs, based in Hong Kong. Ken Liao serves as CEO. The platform says it serves nearly 2 million users. The neobank label comes from the features layered on top of the wallet. There are three main pillars. First, yield. Users can keep their Bitcoin and earn onchain returns through staking protocols such as Stacks. The wallet also supports staking for Stacks’ own token, STX. Second, borrowing. Users can take out stablecoins such as USDC using their Bitcoin as collateral. Third, payments. Xverse supports stablecoin payments across Bitcoin’s base layer and several Layer 2 networks, including Stacks, Starknet and Spark. Underpinning all of it is the self-custody mo...