The crypto development platform Crossmint has secured $23.60 million in funding, led by Ribbit Capital.

According to a report by Fortune on March 18, Deep Tide TechFlow announced that the crypto development platform Crossmint has completed a total financing of $23.60 million, covering seed round, Series A, and strategic funding rounds. This Series A financing was led by fintech venture capital firm Ribbit Capital, with other investors including Franklin Templeton, Nyca, First Round, and Lightspeed Faction. Touza stated that investors received equity rather than promised cryptocurrencies.

Both Touza from Spain and co-founder Alfonso Gómez-Jordana Mañas come from engineering backgrounds, and their goal in building Crossmint is to attract software engineers. The platform provides a toolbox for programmers, enabling them to more easily integrate crypto technology into applications. This means that developers do not need to delve into the technical details of how to launch programs on the Ethereum blockchain or create wallets to store Bitcoin; instead, they can use shortcuts by connecting to Crossmint's API.

Touza mentioned that Crossmint's products are similar to another crypto development platform, Alchemy, but its target customers are more traditional tech companies, fintech firms, and banks. "We serve many large institutions, while they focus more on startups," he said when discussing Alchemy.