- YZi Labs invested in OneKey to improve crypto security and expand global access to affordable self-custody hardware wallets.
- OneKey offers open-source wallets with on-chain protections, designed for both retail users and institutions seeking decentralized asset control.
YZi Labs has officially announced its latest investment in OneKey, an open-source hardware wallet company with a simple mission: to help people around the world secure their own crypto assets, without the hassle of running a node or being stuck with a centralized custodian platform.
The move comes amid growing concerns about the security of digital assets. By 2024, losses from hacks and fraud are expected to exceed $2.2 billion. Many cases start with fragile online storage or transactions that are not fully understood.
OneKey is trying to close the gap with a hardware wallet that is affordable, transparent, and of course, accessible to anyone—both retail users and institutions that are starting to get tired of traditional storage methods.
The company, which was founded in 2019, has a team of 60 people spread across China, Japan, South Korea, Dubai, and Italy. Not only is its team global, but its performance is equally impressive. The total value of user assets secured has increased 11-fold in the past three years, while its wallet sales have grown an average of 300% annually.
Its simple UI and multilingual support make OneKey quite popular in Asia—especially in the Mandarin-speaking community, according to the WeChat index—as well as in Europe, Brazil, and Australia.
Increasingly Attracting Whales and Institutional Markets
On the other hand, OneKey launched a USDC-based Earn module. The result? In a short time, more than $62 million was absorbed. OneKey CEO Yishi Wang even joked, “We are starting to feel like an on-chain personal wealth desk for whales.”
OneKey does seem to be targeting the high-net-worth market that wants to seek direct returns from protocols and LST, and in the future they even plan to touch the structured product realm.
Through investment funds from YZi Labs, OneKey will develop the next generation of wallets, strengthen their on-chain threat detection capabilities, and expand their global expansion, especially to markets such as the US, Europe, and developing regions.
One of their research units, OneKey Anzen Lab, will also continue to test and ‘crack’ their self-made wallets to find security holes. Herein lies their uniqueness—it’s better to be broken by your own team than hacked, right?
Responding to this investment, Nicola Wang from YZi Labs praised Yishi as a very detailed and quality-focused figure. According to him, the OneKey team is not only strong in execution, but also open to input from the community. YZi Labs considers projects like OneKey to be an important part of the effort to open up safer and more independent access to the Web3 world.
YZi Labs Pushes Further into Web3, AI, and Capital Markets
Interestingly, this is not the first time YZi Labs has made a breakthrough. Last March, they also invested in Plume Network—a Layer 2 blockchain that focuses on integrating real-world assets into the crypto ecosystem.
A month later, in April 2025, they launched EASY Residence, a 10-week incubation program for early teams working in the fields of Web3, AI, and health. This program offers access to a broad network, mentorship, and quite comprehensive technical resources.
And recently, on June 2, 2025, YZi Labs appointed Jing Xiong, a former Google executive who is an expert in AI, as its new Investment Director. This appointment strengthens the signal that YZi Labs really wants to focus on the intersection of new technologies and Web3, while maintaining their investment rhythm in the ever-growing crypto field.
Oh yeah, don’t forget, CNF previously reported that YZi Labs also previously invested in Avalon Labs—an on-chain capital market platform that manages over 20,000 BTC and offers services such as Bitcoin-based loans, USDa stablecoin, and even credit cards.
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