Reown Company Profile

Background

Reown, formerly known as WalletConnect, is a pioneering onchain user experience (UX) platform dedicated to simplifying digital ownership. Established in 2018, the company provides developers with comprehensive toolkits—AppKit and WalletKit—to create intuitive, scalable, and secure Web3 applications. Reown's mission is to make the new internet usable and unlock a future that is open, permissionless, and decentralized.

Key Strategic Focus

Reown's strategic focus centers on enhancing onchain UX by offering:

AppKit: A toolkit enabling developers to build world-class app experiences with features like embedded wallets, smart accounts, fee sponsorships, swaps, and on-ramps. AppKit supports multiple blockchain environments, including Ethereum Virtual Machine (EVM), Solana, and Bitcoin.

WalletKit: An industry-standard toolkit designed for innovative wallet UX, allowing wallet users to connect seamlessly with thousands of applications. WalletKit is utilized by over 600 wallets, including Trust Wallet, OKX Wallet, Binance Web3 Wallet, Bitget Wallet, Crypto.com Onchain, and Fireblocks.

By focusing on usability, scalability, and security, Reown aims to bridge the gap between traditional financial systems and blockchain technology, facilitating broader adoption of Web3 applications.

Financials and Funding

As of January 2025, Reown has raised a total of $38 million in funding. The most recent Series B round secured $13 million, led by Union Square Ventures and 1kx, with participation from Global Digital Asset Holdings, Shopify Ventures, Kraken Ventures, Crypto.com Capital, and others. The capital is intended to further develop Reown's onchain UX platform through its SDKs—AppKit and WalletKit.

Technological Platform and Innovation

Reown's technological innovations include:

AppKit: Facilitates rapid user onboarding through features like embedded wallets and smart accounts. It supports multiple blockchains, including Solana and Bitcoin, and has been integrated with platforms like Telegram MiniApps, reaching a user base of over 950 million.

WalletKit: Provides tools, libraries, and APIs to streamline wallet connections to decentralized applications. It focuses on chain abstraction and gas abstraction, aiming to eliminate chain-swapping and bridging blockers, and to remove the need for users to manage gas fees.

These innovations position Reown as a leader in enhancing onchain UX, making blockchain technology more accessible and efficient.

Leadership Team

Jess Houlgrave: Chief Executive Officer

Derek Rein: Chief Technology Officer

Steven Dolcemaschio: Chief Marketing Officer

Chris Murrer: Head of Legal

Ignacio Rivera: Head of Product

Rachel Morris: Head of Operations and People

This leadership team brings a wealth of experience in technology, marketing, legal, product development, and operations, driving Reown's mission to enhance onchain UX.

Competitor Profile

Market Insights and Dynamics

The onchain UX market is experiencing significant growth, driven by the increasing adoption of blockchain technology across various sectors. As traditional financial services integrate crypto payments, the demand for improved onchain UX has surged. Reown's focus on simplifying digital ownership positions it strategically within this expanding market.

Competitor Analysis

Key competitors include:

MetaMask: A widely used cryptocurrency wallet enabling users to manage digital assets and interact with decentralized applications.

Safe (formerly Gnosis Safe): Provides smart accounts to safeguard digital assets and build the future of ownership.

Web3Auth: Offers non-custodial authentication infrastructure for seamless user logins to Web3 wallets and applications.

Portal: Provides end-to-end Web3 infrastructure for companies to give users access to decentralized applications across various sectors.

These competitors focus on enhancing user experiences in the Web3 space, each offering unique solutions to address onchain UX challenges.

Strategic Collaborations and Partnerships

Reown has established significant partnerships to strengthen its market position and innovation capacity. Notably, financial infrastructure platform Stripe and gift card giant Raise have leveraged Reown's technology for seamless crypto solutions. Additionally, Reown's integration with Telegram MiniApps has expanded its reach to Telegram's extensive user base.

Operational Insights

Reown's strategic considerations include focusing on usability, scalability, and security to differentiate itself from competitors. By offering comprehensive toolkits that support multiple blockchain environments and emphasizing user-centric design, Reown aims to provide distinct competitive advantages in the onchain UX market.

Strategic Opportunities and Future Directions

Reown's strategic roadmap includes further development of its SDKs—AppKit and WalletKit—to enhance onchain UX. The company plans to expand into new ecosystems and offer services on more blockchains, addressing the growing demand for improved onchain user experiences. By leveraging its current strengths and strategic partnerships, Reown is well-positioned to achieve its future objectives in the evolving Web3 landscape.