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Portto
Defunct500 Global7 known investors
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Portto, based in Singapore, develops Blocto, a browser for decentralized applications. The product is aimed at making blockchain services accessible to non-technical users, who can use it to acquire and use crypto assets.
Also known as Blocto Wallet · portto · portto.io
Founders & leadership
Investors · 7
How we know: open dataset · 500 Global portfolio 2026-08 · research · nftgators.com · Not right? Tell us
How we know: Continue Capital's portfolio page · Not right? Tell us
How we know: Red Building Capital's portfolio page · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
Also in the syndicate · 1
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Blocto, built by the company portto, was a multi-chain cryptocurrency wallet and decentralized application platform aimed at users without technical blockchain backgrounds. The product combined a smart-contract-based wallet, a dApp browser, a swap/exchange service (BloctoSwap), a cross-chain bridge (also referred to as Blocto Teleport), an NFT marketplace (BloctoBay) and a developer SDK. Account creation used email logins rather than seed-phrase onboarding, and the wallet supported a custodial mode alongside key export.
The platform operated across multiple networks, including Ethereum, Flow, Aptos, Solana, BNB Chain, Polygon and Tron, and facilitated transactions within and across those chains. On the developer side, Blocto published integration documentation and an SDK allowing dApps to integrate payments, batch transactions, push notifications and a reward system, and to manage assets across chains from a single account. Consumer and entertainment brands including Yahoo, MotoGP Ignition, Gogoro, CNN's Vault, Dark Country, Enemy Metal, Versus and VIV3 were cited as integrations or partners.
In December 2025, after roughly five years of operation and more than 2 million cumulative users, the company announced it would shut down Blocto Wallet, BloctoSwap and the cross-chain bridge, attributing the decision to depleted funds and accumulated losses exceeding $5.5 million amid a collapse in the price of the FLOW token from near $40 in 2021 to below $0.30. Node staking operated by Blocto was to continue; users were instructed to withdraw liquidity pool positions, bridge assets back to their original networks and export private keys before the deadline.
Founding story
Blocto was created by co-founders Hsuan Lee (CEO) and Edwin Yen (COO), both graduates of National Taiwan University, who had been active in the crypto sector for more than five years as of 2021. The two previously worked together at Cobinhood, a Taiwan-based zero-fee crypto exchange, and its sister company Dexon, which focused on dApps and a high-throughput blockchain; they have said they built a top-10 crypto exchange in three months and a native blockchain handling 10,000+ transactions per second with associated developer tooling in 2018. Lee previously worked at Yahoo and Agoda, while Yen worked as a blockchain ecosystem architect and at Schneider Electric. The founders set out to address the usability barriers that kept blockchain applications limited to technically sophisticated early adopters.
Business model
portto operated a consumer- and developer-facing crypto platform: a free multi-chain wallet and dApp portal for end users, paired with an SDK and integration tooling that dApp developers could use to onboard users, embed payments and abstract transaction fees. Blocto used meta-transactions to sponsor gas fees so that users without cryptocurrency could begin using dApps, and applied a flexible fee model in which users spent Blocto points to cover fees across blockchains. Adjacent services included a token swap venue (BloctoSwap), a cross-chain bridge, an NFT marketplace (BloctoBay) and node staking.
Traction
Blocto reported 1.6 million users as of November 2022 and about 400,000 users on Aptos, where it was described as the second-largest wallet on that network. At the time of the December 2025 shutdown announcement, the company said it had served over 2 million users across roughly five years of operation.
Latest developments
On December 17, 2025, reports described a formal update from Blocto stating that Blocto Wallet, BloctoSwap and the Blocto cross-chain bridge/Teleport would cease operations at 7 p.m. PST on December 18, 2025. The company cited a collapse in the FLOW token price from near $40 in 2021 to below $0.30, accumulated losses exceeding $5.5 million, depleted operating funds, and unproductive discussions with Flow/Dapper leadership since June. Blocto-owned node staking was to remain active, and users were directed to withdraw liquidity pool assets, bridge cross-chain assets back to their original networks and export private keys from custodial mode before the deadline, with warnings about scams and against sharing private keys.
▸Full profile — market position, technology, go-to-market, geography, risks & controversies
Market position
Blocto positioned itself as a cross-chain onboarding layer for mainstream users, with its investor 500 Global comparing the model to a Steam-style distribution platform for dApps. It was closely tied to the Flow ecosystem, where BloctoBay was described as the largest NFT marketplace on the chain, and it was reported as the second-largest wallet on Aptos following its expansion there. The company's dependence on the Flow ecosystem was a factor in its 2025 wind-down.
Distinguishing features included email-based account creation instead of seed phrases, gas-fee sponsorship via meta-transactions so new users could transact without holding cryptocurrency, a smart-contract wallet architecture supporting atomic batched transactions, MetaMask-compatible provider injection requiring no code changes from dApps, and a combined offering of wallet, exchange, bridge, NFT marketplace and developer SDK across several blockchains from a single account.
Technology
Blocto was a smart-contract-based wallet rather than a private-key-only wallet, so signed messages returned multiple signatures and required EIP-1654 verification by integrating applications. It injected a Web3 provider into websites at window.bloctoProvider (and at window.ethereum on Ethereum), remaining compatible with existing MetaMask-oriented code. Batch requests were combined into a single atomic on-chain transaction — all included transactions succeeded or failed together — which reduced gas costs. Meta-transactions were used to pay users' gas fees, and deep links (blocto.app/link) opened the in-app dApp browser at a specified URL and chain, with platform detection for Android, iOS and web. Mobile apps were distributed through the Apple App Store and Google Play.
Go-to-market
Distribution ran through mobile app stores, an in-app dApp browser and portal, and integrations with dApps and consumer brands that embedded Blocto as their wallet. The email-login onboarding was pitched to Web3 builders as a way to reuse conventional Web2 marketing and acquisition methods at lower cost. Partnerships with blockchain ecosystems such as Flow, and later Aptos, Solana and BNB Chain, plus a reward system and developer documentation, supported adoption.
Mainstream, non-technical retail crypto users seeking access to DeFi, NFT and GameFi applications without managing gas tokens or seed phrases; and dApp developers and consumer brands needing wallet infrastructure, payment integration and user onboarding across multiple blockchains.
Geography
The company originated in Taiwan, where its founders studied and previously worked, and served users internationally through mobile app stores and the ecosystems it supported.
Risks & controversies
The business was heavily exposed to the Flow ecosystem; the roughly 99% decline in the FLOW token from its 2021 peak was cited as the direct cause of accumulated losses over $5.5 million and the exhaustion of operating funds. The company also said attempts to reach a sustainable arrangement with Flow/Dapper leadership went unanswered. The shutdown created execution risk for users, who had to withdraw liquidity, bridge assets back and export keys from custodial wallets within a short window or risk losing access, and heightened exposure to impersonation scams.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 4
launches, deals, and filingsBlocto announced that Blocto Wallet, BloctoSwap and the Blocto cross-chain bridge (Teleport) would stop operating at 7 p.m. PST on December 18, 2025, citing depleted funds and accumulated losses of more than $5.5 million after the FLOW token fell from near $40 in 2021 to below $0.30. Blocto-owned node staking remained unaffected; users were instructed to withdraw liquidity pool assets, bridge assets back to original networks and export private keys.
$5.5M source ↗
Blocto completed a Series A funding round valuing the cross-chain wallet at $80 million, with 500 Global and IPX (formerly Line Friends) participating. The company said proceeds would accelerate development of infrastructure for onboarding new users to web3.
Blocto expanded to Aptos, where it reported roughly 400,000 users and was described as the second-largest wallet on that network. Blocto was available on Ethereum, Aptos, Solana, Flow, BNB Chain, Polygon and Tron.
Blocto revealed that Dallas Mavericks owner Mark Cuban had invested in the company; Cuban also serves as an adviser to the portto subsidiary.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- portto (Blocto) · GitHubgithub.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Portto do?
- Taiwan-founded operator of Blocto, a multi-chain crypto wallet and dApp platform that wound down its core services in December 2025.
- Who founded Portto?
- Portto was founded by Edwin Yen, H Lee, Yumo Yu.
- Who are Portto's investors?
- Portto's investors include 500 Global, AppWorks Ventures, CatcherVC, Continue Capital, Red Building Capital, Olive Tree Capital.