PANews reported on December 10 that according to CoinDesk, Bitcoin trading and self-custody application Relai completed a $12 million Series A financing, planning to expand into the European market and apply for MICA (Crypto Asset Market) regulatory license. This round of financing was led by Ego Death Capital, a venture capital firm focused on Bitcoin, which contributed $4 million, and Plan B Bitcoin Fund, Timechain and Solit Group participated in the investment.

Relai is headquartered in Switzerland and its "non-custodial" model has been favored, with the app downloaded more than 400,000 times. Co-founder and CEO Julian Liniger said the new funds will significantly boost the company's growth and help more European users understand and get in touch with Bitcoin.