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Binance Labs Leads $12M Funding Round for Multi-Asset Wallet Developer MATH
NGC Ventures, Capital6 Eagle and Amber Group co-led the round.
MATH, the company behind MathWallet, has raised $12 million in a Series B funding round led by Binance Labs, the investment arm of the popular crypto exchange.
STORY CONTINUES BELOW
- NGC Ventures, Capital6 Eagle and Amber Group co-led the round.
- According to a blog post Thursday, the investment will enable MATH to accelerate product updates for its wallet, grow its ecosystem of decentralized apps (dapps) and connect more widely in the global market
- With over 54 cryptocurrencies supported, Eric Yu, co-founder and CTO of MathWallet, claimed the product "is currently the crypto wallet supporting the most public chains."
- MathWallet secured a $7.8 million series A+ funding round led by Alameda Research and Multicoin Capital in November.
- Binance Labs said MathWallet is one of the first crypto wallets to support Binance Smart Chain, the company's alternative to Ethereum.
- MATH's "comprehensive coverage of public blockchains and their early support for and cooperation with the Binance Smart Chain were instrumental in our investment decision," said Wei Zhou, head of Binance Labs.
See also: Binance Expects to Earn From $800M to $1B This Year, CEO Says: Report
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
