Kresus

About Kresus

Kresus Labs, Inc. develops a non-custodial crypto wallet and Web3 SuperApp that allows users to manage, store, and trade digital assets across multiple blockchains. Founded in 2021 by serial entrepreneur Trevor Traina, the San Francisco-based company aims to simplify the Web3 experience for a broad audience. Traina, who previously founded companies acquired by Microsoft, Mastercard, and Intuit and served as the U.S. Ambassador to Austria, brings a background in both technology and diplomacy to the venture. The leadership team includes veterans from companies like Apple, Hulu, and Mastercard.

The Kresus app functions as an all-in-one platform, integrating features that traditionally require multiple tools. Key functionalities include multi-chain support for assets on networks like Solana and Base, direct crypto purchases via credit card or Apple Pay, and access to decentralized finance (DeFi) yield strategies. A significant feature is its recovery system, which eliminates the need for users to manage complex seed phrases and ensures they can regain access to their wallet even if they lose their email. The platform uses technologies like account abstraction and holds encrypted keys on an AWS Hardware Security Module to enhance security. For a monthly fee, Kresus Pro offers services like asset insurance up to $10,000, gasless transactions on the Base network, and access to pro-level trading tools.

The company's business model includes a premium subscription service, Kresus Pro. Kresus also generates revenue through partnerships, such as its collaboration with Christie's auction house to mint digital certificates of ownership for art pieces. In March 2023, Kresus Labs closed a $25 million Series A funding round led by Liberty City Ventures, with participation from investors including JetBlue Ventures, Craft Ventures, Franklin Templeton, and Marc Benioff. This capital is being used to expand the app's features, hire personnel, and form strategic partnerships.