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June 5, 2025 – OneKey, a leading open-source hardware wallet and crypto DeFi wallet provider, today announced a strategic investment from YZi Labs, a prominent global asset management firm with over $10 billion in assets under management. This investment underscores YZi Labs’ commitment to impact-first ventures and reinforces OneKey’s mission to enhance global crypto security by making affordable, institutional-grade self-custody solutions accessible to all.
The cryptocurrency ecosystem continues to grapple with significant security challenges, with billions lost annually to hacks, scams, and vulnerabilities in online storage. OneKey directly addresses these critical risks by developing open-source hardware wallets paired with robust on-chain protections. This approach caters to both retail users and institutions seeking decentralized and secure asset management.
"Crypto asset security remains a critical challenge, with 2024 losses from hacks and scams exceeding $2.2 billion due to vulnerabilities in online storage and poorly decoded transactions," stated YZi Labs in their announcement. OneKey's solutions are designed to mitigate these risks effectively.
Founded in 2019, OneKey has rapidly grown into a widely used brand, securing billions in assets for users worldwide. The company has demonstrated impressive growth, achieving an 11x increase in secured user asset value over the past three years and a 300% average annual growth in hardware wallet sales. With 60 employees across key global markets including China, Japan, South Korea, Dubai, and Italy, OneKey boasts strong brand recognition, particularly in Asia, Europe, Australia, and Brazil, supported by its multilingual support and intuitive user interface.
OneKey’s product line is comprehensive, featuring hardware wallets like the OneKey Pro, Classic 1S, and Classic 1S Pure, alongside accessories like KeyTag and Lite for secure backups. Beyond hardware, OneKey offers a rich software ecosystem including OneKey Swap, desktop and mobile applications, browser extensions, and web dApps. The company has also expanded its services with offerings like "Sifu," a 1-on-1 wallet setup service, and has integrated features such as full EVM decoding and SOL message signing, with a one-stop staking management page now live.
A testament to its growing appeal, OneKey’s USDC-based Earn module saw over $62 million subscribed in a short period, indicating its strong traction among high-net-worth users. "We’re becoming an on-chain private wealth desk for whales," joked Yishi Wang, Founder and CEO of OneKey. He envisions significant potential in on-chain yield opportunities, from protocol incentives to LST rewards and structured products.
This strategic investment from YZi Labs, which complements prior backing from Coinbase Ventures, will bolster OneKey’s efforts in several key areas:
- Next-Generation Hardware Development: Advancing its hardware wallet technology.
- Enhanced On-Chain Security: Improving threat detection and contract parsing capabilities to proactively counter emerging risks.
- Global Expansion: Expanding compliance and user growth initiatives, particularly in strategic markets like the U.S., Europe, and emerging regions.
- Research & Development: Strengthening wallet security through its OneKey Anzen lab, which rigorously tests and attempts to "break" hardware wallets for research purposes.
- Developer Ecosystem: Fostering a vibrant developer community to drive continuous product innovation.
"Yishi is an exceptionally detail-oriented founder & product builder. We’re deeply impressed by the team’s execution, focus on quality, and their openness to the community," commented Nicola Wang, Investment Director at YZi Labs. "We’ll continue to support gateway products like OneKey that empower users to take control of their assets with confidence and security, driving broader adoption and trust in web3."
Yishi Wang emphasized OneKey’s unwavering commitment: "At OneKey, we believe true crypto adoption starts with universal access to self-custody. This funding enables us to keep building an open, verifiable, and future-proof security stack. We’ll continue to prioritize asset protection and make institutional-grade security accessible to every crypto citizen."
OneKey's hardware and software are fully open-sourced and independently audited, ensuring transparency and trust. With its robust security architecture and user-centric approach, OneKey is poised to play a pivotal role in securing the decentralized future and enabling confident participation in the Web3 economy.
About OneKey:
Founded in 2019, OneKey is a widely used open-source hardware wallet brand that secures billions in assets for users worldwide. Its hardware and software are fully open-sourced and independently audited, offering institutional-grade security and a free companion app. OneKey’s mission is to make secure self-custody accessible to every crypto user.
About YZi Labs:
YZi Labs manages over $10 billion assets globally, with an investment philosophy emphasizing impact first. They invest in ventures at every stage, prioritizing those with solid fundamentals in Web3, AI, and healthcare, and have supported over 300 projects across six continents.
Compiled by CMO Intern team
