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Tim Draper leads $3.2m round in Singapore crypto firm Ryder
Ryder, a Singapore-based cryptocurrency hardware wallet maker, has raised US$3.2 million in seed funding led by Tim Draper, founder of Draper Associates.
Other participants include VC firms Borderless, Semantic, Smape, VeryEarly, and angel investors Anatoly Yakovenko, co-founder of Solana, and Joe McCann, CEO of Asymmetric.
The company will use the funds to increase production, expand its marketing and engineering teams, and develop its Ryder One wallet.
Ryder One features a recovery system called TapSafe, which uses mobile devices and NFC tags to restore wallet access.
The company claims this approach removes the need for traditional seed phrases, a common method for cryptocurrency wallet recovery.
Ryder was founded by Louise Ivan Payawal and Marvin Janssen.
🔗 Source: Ryder
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Implications, context, and why it matters.
Payment service providers and point-of-sale vendors can prepare for crypto tap-to-pay pilot programs
- Ryder is building tap‑to‑pay for crypto from hardware wallets through its companion app. Tyro 2, PayEngine 3, and Stripe 4 already ship tap‑to‑pay SDKs for card payments on iOS with NFC plus Android devices.
- PSPs can check whether Ryder plans partner SDKs like the ones above 234. They should confirm supported regions, with an eye on rules such as the UK’s Strong Customer Authentication requirements 4. Watch for merchant pilot news. POS vendors can test NFC reader and terminal support, then explore white‑label integration as Ryder expands beyond a wallet‑only product.
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