Movement Invests in Sorted
Movement Backed Sorted Wallet. Here's Why.
Most crypto infrastructure gets built for the people who are already in crypto. Sorted Wallet was built for everyone else.
Sorted is a non-custodial stablecoin wallet that runs on a $20 feature phone. Same app, same experience, only 10MB, also runs on smartphones, which makes them the lightest crypto wallet on any app store. Their users are in Nigeria, Kenya, Tanzania, Pakistan, Bangladesh and beyond. They use it to send money across borders, pay bills, and hold value in a currency that stays stable when the one in their pocket does not. 500,000 downloads across 160 countries, zero paid acquisition.
Movement has invested in their $4.4M seed round. Tether leads, alongside Gnosis, Angel Invest Group, and angels including the founders of RWA.io.
Why we backed them
Sorted has already done what most "emerging markets" crypto companies are still pitching. When we looked at the cap table and the traction together, it was clear this wasn't a bet on a thesis, it was a bet on a deployed product with real users in markets where most peers are still pre-launch.
Their on-ramp uses voucher codes distributed through local ambassadors without the need of a bank account, credit card, or complicated KYC flow. Their KYC is built for feature phones, which also means no photo requirements. This shows how it’s the right product for how people in these markets actually live.
"Movement backed Sorted because they're doing what most of the industry talks about and few actually do, building infrastructure for the people who need it most. This is exactly the kind of real-world financial utility Movement is built to support, and we think the next chapter for Sorted is going to be significant."
What this means for Movement
This is a strategic relationship as Movement is working with Sorted to bring institutional-grade remittance and investment products to the emerging markets we both operate in (Nigeria, Kenya, Tanzania, Pakistan, and beyond). We're building toward a full chain and yield integration, and Sorted's on-the-ground distribution in these markets feeds directly into how we're expanding there.
What's next
If you're building in emerging markets and want to understand how Movement's settlement infrastructure fits into what you're doing, get in touch.
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This post is informational only and does not constitute an offer to sell, or a solicitation of an offer to buy, any digital asset, security, financial instrument, or stablecoin, or financial, investment, legal, or tax advice. Sorted's products and services described in this post are made available solely by Sorted, are subject to Sorted's terms and to applicable law. Movement does not provide payments, money-transmission, custody, or stablecoin services. Stablecoin transfers and payments involve risk, including risk of loss. This post is not directed at, and is not intended for distribution to, persons in jurisdictions where its publication would be unlawful. Forward-looking statements reflect Movement's current expectations and are not guarantees; actual outcomes may differ.