Wayra, Telefónica's corporate venture capital arm, is investing in Crossmint, the all-in-one blockchain platform for businesses, to facilitate on-chain content creation and the use of AI agents. This funding follows a year of strong growth, with a 1,100% increase in subscription revenue. Crossmint is designed to eliminate the complexity surrounding blockchain technology, allowing businesses to work with a single provider without needing to combine multiple solutions or deploy a large team of engineers for development. In this regard, they are developing a new system powered by AI agents where Crossmint provides wallets, payments, and credential APIs so that these agents can securely hold funds, exchange assets, and acquire goods and services, adapted to existing systems, regardless of whether they are designed to block automated use. With this new €20.7 million investment round, Wayra positions itself as a strategic partner for Crossmint, facilitating their access to the Telefónica Group, as well as offering them advice, physical space in its facilities, invitations to internal events—giving them access to other investors—and leading external events in the sector that allow them to connect with other players in the entrepreneurial and technological ecosystem. Along with Wayra, other investors participating in this round include Ribbit Capital, Franklin Templeton, Nyca, First Round, Lightspeed Faction, and HF0. Today, more than 40,000 companies and developers use Crossmint, including global brands such as Adidas and Red Bull. The platform is being adopted by diverse sectors and organizations of all sizes, from startups to Fortune 500 companies, to integrate their businesses into the blockchain. "Publicly traded fintechs are using Crossmint to incorporate stablecoins, launch new financial products globally, and reduce costs. Fortune 500 companies are creating product passports to prevent counterfeiting and provide supply chain transparency, and one of the world's largest banks is developing an interoperable rewards program. At the same time, a new generation of startups is using Crossmint to develop applications in days instead of months, revolutionizing existing markets at an unprecedented speed," says Rodri Fernández, co-founder of Crossmint. "From Wayra's perspective, investing in Crossmint represents a strategic opportunity to support a disruptive startup founded by two Spaniards who are leading the way in blockchain infrastructure in the highly competitive US market. When Crossmint began Through their journey with NFTs, we saw the potential of their vision to simplify access to blockchain. Today, their ability to build the necessary infrastructure for AI agents to securely interact with the chain opens up new possibilities for businesses. That's why we support Crossmint's expansion into strategic markets, giving them a competitive advantage and a key boost to accelerate their growth and increase their global visibility,” says Paloma Castellano, Director of Wayra Spain. About Crossmint: Crossmint is a comprehensive platform for companies developing on the blockchain. Trusted by over 40,000 companies and developers, including major corporations like Red Bull and Adidas, Crossmint provides businesses with their entire blockchain backend in just a few lines of code. Its product range includes wallets as a service that companies can integrate into their websites or applications, tokenization, payments, on-chain credentials, and other essential components. Compatible with more than 40 different blockchains, Crossmint makes it easy for companies to leverage the advantages of blockchain and create accessible experiences for the general user.
About Wayra
Wayra is Telefónica's Corporate Venture Capital arm, through which it invests in startups with the potential to bring innovation to Telefónica and provides innovation services to third parties, helping them take their open innovation initiatives to the next level. With a global team, it has a presence and operates in nine countries across Europe and Latin America, including Spain, the United Kingdom, Germany, Brazil, Argentina, and Colombia. Through its funds, it also has a presence in Silicon Valley and Israel. Since its creation more than 15 years ago, Wayra has invested €245 million in over 1,100 startups and currently has over 530 startups in its portfolio, of which more than 200 work with Telefónica. We also have a network of over 150 partners and clients, and two innovation platforms (Alaian and Open Future) open to third parties.