OneKey, a prominent player in the cryptocurrency hardware wallet sector, has successfully closed its Series B funding round, achieving a valuation of $150 million. The investment was led by YZi Labs, formerly known as Binance Labs, underscoring a strong commitment to advancing secure and accessible crypto self-custody solutions globally.
This funding milestone arrives at a critical time, as the industry grapples with escalating security challenges. In 2024 alone, losses from hacks and scams exceeded $2.2 billion, highlighting the urgent need for robust asset protection mechanisms.
Strategic Investment and Vision Alignment
YZi Labs, which rebranded in early 2025 to reflect a broader investment vision beyond cryptocurrency, spearheaded this funding round. The firm operates as the family office of Binance co-founders Yi He and Changpeng Zhao, signaling a strategic focus on foundational Web3 infrastructure.
OneKey plans to allocate the new capital toward accelerating the development of next-generation hardware wallets, enhancing on-chain security tools, and expanding compliance-driven growth initiatives. The company emphasizes a user-first approach, prioritizing transparency and verifiable security in all its products.
Accelerating Hardware and Software Innovation
OneKey has documented impressive growth metrics, including a 300% annual increase in hardware sales and an eleven-fold surge in the value of assets secured over the past three years. The brand maintains strong traction across Asia, Europe, Australia, and Brazil.
Key development areas include:
- Next-Generation Hardware Wallets: Introducing more intuitive and secure devices for storing digital assets.
- Advanced Security Tools: Enhancing contract analysis and real-time threat detection capabilities.
- Anzen Security Lab: Expanding efforts to identify and resolve vulnerabilities through rigorous testing under extreme conditions.
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The company’s open-source ethos and commitment to institutional-grade security for everyday users remain central to its mission.
Leadership and Industry Confidence
Yishi Wang, Founder and CEO of OneKey, emphasized that the Series B funding enables the company to continue building an open and future-proof security stack. "We’ll continue to prioritize asset protection and make institutional-grade security accessible to every crypto citizen," he stated.
YZi Labs’ investment highlights a growing industry trend toward supporting infrastructure that safeguards user assets and simplifies Web3 adoption. Their endorsement reflects confidence in OneKey’s ability to address critical security gaps in the cryptocurrency ecosystem.
The Broader Context: Why Security Matters
The rising frequency and sophistication of crypto thefts have made security a top priority for individual and institutional investors alike. Centralized exchanges and online wallets, often targeted due to inherent vulnerabilities, have accelerated the shift toward self-custody solutions.
Hardware wallets like those developed by OneKey offer an added layer of protection by keeping private keys offline, significantly reducing exposure to remote attacks. This approach aligns with the core tenets of decentralization and personal sovereignty in the digital asset space.
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Frequently Asked Questions
What is a hardware wallet?
A hardware wallet is a physical device designed to securely store the private keys that grant access to your cryptocurrencies. Unlike software wallets, they remain offline, making them highly resistant to hacking attempts and unauthorized access.
How does OneKey enhance security?
OneKey employs transparent, open-source firmware, rigorous vulnerability testing through its Anzen lab, and advanced features like on-chain threat detection. This multi-layered approach ensures comprehensive protection for users’ digital assets.
Why is self-custody important in crypto?
Self-custody empowers users to have full control over their assets without relying on third-party intermediaries. This reduces counterparty risk and aligns with the decentralized principles of blockchain technology.
Who is behind YZi Labs?
YZi Labs is the family office of Binance co-founders Yi He and Changpeng Zhao. The firm rebranded from Binance Labs in early 2025 to pursue a wider range of technological investments, including Web3 infrastructure.
Which regions does OneKey serve?
OneKey has a significant user base across Asia, Europe, Australia, and Brazil. Its products are designed to be accessible globally, with a focus on regions with high cryptocurrency adoption.
What makes OneKey different from other hardware wallets?
OneKey distinguishes itself through its strong emphasis on transparency, open-source development, and proactive security research. The company’ rapid growth and backing by major investors also reflect strong market confidence.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research and consult with professional advisors before making any financial decisions.