OneKey, a crypto hardware wallet maker based in Hong Kong, has raised around $20 million in a Series A funding round.

Announcing the news on Twitter on Wednesday, OneKey said the round was led by Dragonfly and Ribbit Capital. Other investors in the round included Coinbase Ventures, Framework Ventures, Sky9 Capital, Folius Ventures and Ethereal Ventures. Angel investors, including Santiago Santos and Feng Liu, also backed the round.

In addition to the Series A funding, OneKey has also closed a round of "small funding" with participation from IOSG Ventures, according to a tweet from Yishi Wang, core contributor at OneKey.

OneKey claims its code is totally open source. If a crypto wallet doesn't operate this way, it could hide a backdoor that could compromise the security of customer assets, according to OneKey. "OneKey is, to date, the only hardware wallet in the world that is 100% open source and uses a certified secure chip," Wang tweeted today.

Founded in 2020, OneKey claims to be the number one hardware wallet in the Eastern Hemisphere. Wang said OneKey has taken custody of billions of dollars in crypto assets and continues to grow rapidly, citing "incomplete 3rd-party statistics."