In an era where digital assets are increasingly central to global finance, securing cryptocurrency holdings has become a top priority for both individual and institutional investors. With over $2.2 billion lost to hacks and scams in 2024 alone, the need for robust, accessible, and transparent security solutions has never been more urgent. Enter OneKey — a pioneering open-source hardware wallet provider now backed by YZi Labs in a strategic investment aimed at advancing secure self-custody solutions worldwide.
The Growing Need for Secure Crypto Asset Management
As blockchain adoption accelerates, so do the risks associated with poor digital asset custody. Many users still rely on centralized exchanges or poorly secured software wallets, leaving them vulnerable to phishing attacks, private key exposure, and malicious smart contracts. These vulnerabilities underscore the importance of self-custody, where users maintain full control over their private keys and assets.
OneKey addresses this challenge head-on by offering affordable hardware wallets that combine military-grade security with user-friendly design. Unlike proprietary systems, OneKey’s devices are fully open-source — meaning their code is publicly auditable, reducing the risk of hidden backdoors or undetected flaws. This transparency builds trust and empowers users to verify security independently.
👉 Discover how next-gen crypto wallets are redefining digital asset protection.
OneKey: A Global Player in Open-Source Security
Founded in 2019, OneKey has rapidly grown into a leading name in the hardware wallet space. With teams spread across China, Japan, South Korea, Dubai, and Italy, the company serves a diverse international user base. Its multilingual support and intuitive interface have driven strong adoption in Asia — particularly among Chinese-speaking communities — as well as in Europe, Australia, and Brazil.
Over the past three years, OneKey has achieved remarkable growth:
- An 11x increase in the total value of secured user assets
- 300% average annual growth in hardware wallet sales
- Expansion of its ecosystem to include advanced on-chain tools and yield-generating features
This momentum reflects growing confidence in decentralized custody models and increasing demand for institutional-grade security tools accessible to everyday users.
Bridging Retail and Institutional Needs
OneKey isn’t just for casual crypto holders. The launch of its USDC-based Earn module attracted over $62 million in deposits shortly after release — a clear signal of interest from high-net-worth individuals and sophisticated investors.
“We’re becoming an on-chain private wealth desk for whales,” joked Yishi Wang, Founder and CEO of OneKey. While said in jest, the comment highlights a real shift: self-custody solutions are no longer just about safety; they’re evolving into comprehensive financial platforms capable of delivering yield, managing risk, and enabling complex on-chain strategies.
Looking ahead, OneKey plans to expand into:
- Protocol incentive programs
- Liquid staking token (LST) rewards
- Structured financial products tailored for self-custodied assets
This strategic evolution positions OneKey not just as a wallet provider, but as a full-stack financial infrastructure player in the decentralized economy.
Advancing Security Through Innovation
Security remains at the core of OneKey’s mission. To push the boundaries of hardware resilience, the company established OneKey Anzen Lab, a dedicated security research division focused on testing and breaking hardware wallets — including its own — to identify vulnerabilities before attackers can exploit them.
Staffed by experts from top tech firms like ByteDance, DJI, and OPPO, the team combines deep engineering expertise with real-world threat modeling. Their work ensures that each new generation of OneKey devices meets the highest standards of tamper resistance, secure element integration, and firmware integrity.
Additionally, OneKey continues to enhance its on-chain threat detection and smart contract parsing capabilities, helping users avoid interacting with malicious dApps or fraudulent transactions — a common vector for fund loss.
YZi Labs’ Vision: Empowering Web3 Access
YZi Labs’ investment underscores its broader commitment to building gateway technologies that make web3 safer and more accessible. Managing over $10 billion in global assets, YZi Labs prioritizes ventures with strong fundamentals in Web3, AI, and healthcare — particularly those driving real-world impact.
“Yishi is an exceptionally detail-oriented founder & product builder,” said Nicola Wang, Investment Director at YZi Labs. “We’re deeply impressed by the team’s execution, focus on quality, and openness to the community. We’ll continue to support gateway products like OneKey that empower users to take control of their assets with confidence and security.”
For YZi Labs, this investment aligns with a long-term vision: fostering trust in decentralized systems by backing tools that put users first.
Making Institutional-Grade Security Accessible
“At OneKey, we believe true crypto adoption starts with universal access to self-custody,” said Yishi Wang. “This funding enables us to keep building an open, verifiable, and future-proof security stack. We’ll continue to prioritize asset protection and make institutional-grade security accessible to every crypto citizen.”
This democratization of security is critical. As blockchain use cases expand beyond speculation into areas like decentralized identity, tokenized real-world assets, and DeFi lending, the consequences of poor custody grow more severe. By lowering the barrier to secure self-custody, OneKey helps ensure that innovation doesn’t come at the cost of safety.
👉 Explore how open-source technology is shaping the future of digital finance.
Core Keywords
- Crypto security
- Self-custody solutions
- Hardware wallet
- Open-source wallet
- Decentralized asset management
- On-chain protection
- Affordable crypto wallet
- Web3 gateway
Frequently Asked Questions (FAQ)
Q: What is self-custody in crypto?
A: Self-custody means holding your cryptocurrency using a wallet where only you control the private keys. This eliminates reliance on third parties like exchanges and gives you full ownership and responsibility for your assets.
Q: Why choose an open-source hardware wallet?
A: Open-source wallets allow public scrutiny of their code, making it easier to detect bugs or backdoors. This transparency increases trust and security compared to closed-source alternatives.
Q: How does OneKey protect against malicious smart contracts?
A: OneKey integrates advanced contract parsing and on-chain threat detection tools that analyze transaction data before signing, alerting users to potential risks such as unauthorized fund transfers or suspicious contract behavior.
Q: Is OneKey suitable for beginners?
A: Yes. Despite offering advanced features for experienced users, OneKey emphasizes ease of use with an intuitive interface, multilingual support, and comprehensive onboarding resources.
Q: Can I earn yield with OneKey?
A: Yes. Through modules like the USDC-based Earn feature, users can securely generate yield directly from their self-custodied assets without surrendering control.
Q: What markets is OneKey expanding into?
A: The company is actively growing in the U.S., Europe, and emerging markets, with plans to enhance compliance frameworks and user acquisition strategies tailored to local regulations and needs.
YZi Labs’ investment marks a pivotal moment in the evolution of secure crypto access. As threats evolve and adoption grows, solutions like OneKey play a vital role in ensuring that empowerment through decentralization doesn’t come at the expense of safety.
👉 See how modern custody solutions are transforming digital asset ownership.