In a news report gathered earlier, popular crypto Wallet company, MathWallet has just closed a $12 million Series B round of funding led by the venture capital of Binance, Binance Labs. The purpose of the investment round is to strengthen the ambitions of Mathwallets who aim to be the future in DeFi and the cryptocurrency space.
The investment round also shows the commitment of Binance, through its Venture Capital, Binance Labs initiative to promote DeFi, to build blockchain infrastructures, and provision of optimum support towards startup innovation.
Binance Labs partnered with NGC Ventures, C6E (Capital6 Eagle), and Amber Group
While Binance Labs is making headlines in the $12million investment funding, it is worthy to note that the Series B round of funding was also co-led by NGC Ventures, C6E (Capital6 Eagle), and Amber Group. In an official statement to the press by Wei Zhou, Head of Binance Labs, he agrees that his company had been impressed by the immense growth of Mathwallet since their launch.
Zhou also stated that Mathwallet’s comprehensive coverage of public blockchains and their early support and cooperation with the Binance Smart Chain were instrumental in his firm’s investment decision. Zhou further stated that he looks forward to his company moving the Defi ecosystem together with Mathwallet.
The new investment fund will benefit the Blockchain space
The new investment fund is set to strengthen the Blockchain space, which has witnessed a large influx of investors. In the same vein as Wei Zhou, the Chief Technology Officer of MathWallet, Eric Yu, also believes that Mathwallet will be the biggest beneficiary of the deep connection between Binance Labs and Binance Smart Chain, as it will further expand his company’s business to the global market.
He expects that the investment brings more innovation, as he expects Mathwallet to tap into a world of opportunities which Binance Labs has introduced it to. He further concludes that he expects the partnership and the efforts of Binance and Mathwallets to enable more users to begin their access to the world of blockchain.
MathWallet is a multi-platform (mobile/desktop/extension/hardware) universal crypto wallet with over 1 million users, that enables storage of about 60 tokens which include BTC, ETH/ERC20, NEO/NEP5, EOS, TRON, ONT/ONG, ENU/Telos/EOSC/BOS, BinanceChain, Cosmos, VeChain, and Polkadot tokens. MathWallet also features cross-chain token exchanges, a multi-chain DApp store, and operates nodes for POS chain.
Binance Labs is a social impact fund and an initiative to incubate, invest, and empower blockchain and cryptocurrency entrepreneurs, projects, and communities. It is the world’s first decentralized charity platform to advocate the concept of ‘blockchain for social good’.