Hot on the heels of Ledger announcing it’s working with iPod creator Tony Fadell to create its newest hardware wallet, competing hardware wallet startup Foundation Devices announced it has raised a $7 million seed round to double down on its “sovereign computing platform,” which it says is empowering its users to “reclaim their digital sovereignty.”
The company’s main product, Passport, costs $260 and looks like a mid-2000s Vertu luxury phone, but is, in fact, a hardware crypto wallet built with security and a mobile-first approach in mind.
“The entire cryptocurrency space is built on a foundation of open source. It only works because it’s open. Our strong belief is that open source software must run on open source hardware.” Zach Herbert, CEO, Foundation Devices
The company is taking a novel approach to hardware wallets in that it open sources both the hardware and software for every device it releases. Yes, that means that, should you be so inclined, you can go on GitHub and look at every li …
