MATH Has Closed $12 Million B Round Funding, Led by Binance Labs
SINGAPORE - December 23, 2020 - ( Newswire.com )
MATH Global Foundation, the Singapore-based foundation behind the development of MathWallet, officially announced the completion of $12 million in Series B funding, led by Binance Labs, the venture capital and incubator of Binance.
This strategic investment will enable MATH to accelerate product upgrades for MathWallet, expand resources, build a broader DApp ecosystem, and seek to build broader connectivity in the global market to provide a more friendly and sophisticated experience for blockchain users.
MathWallet was one of the first crypto wallets to support the Binance Smart Chain (BSC). MATH will work with BSC to expand to additional markets, bringing more trading volume and users into the ecosystem.
“We have been super impressed with the MATH’s growth since its launch. Their comprehensive coverage of public blockchains and their early support for and cooperation with the Binance Smart Chain were instrumental in our investment decision. We look forward to growing the DeFi ecosystem together with MATH,” said Wei Zhou, Head of Binance Labs.
Eric Yu, co-founder/CTO of MathWallet, said, “We are delighted that Binance Labs has chosen to invest in our growth. MathWallet has been focusing on the development and innovation in the wallet field. Within just three years, the team has grown from a small start-up to one of the most influential companies. We support the most public chains and have more than one million users. The deep cooperation with Binance Labs and Binance Smart Chain will further expand our business to the global market and continuously breakthrough with innovation. We believe this is a field full of opportunities, and our efforts will enable more users to begin their access to the world of blockchain.”
This investment is part of Binance Labs’ ongoing initiative to promote DeFi and support startup innovation. NGC Ventures, Capital6 Eagle(C6E) and Amber Group also co-led this round of funding.
MathWallet is a multi-platform (mobile/desktop/hardware) universal crypto wallet that enables token storage of 60+ chains including BTC, ETH, Polkadot, Filecoin, Solana, BinanceChain, etc., supports cross-chain token exchange, multi-chain dApp store and operates nodes for POS chain. Our investors include Fenbushi Capital, Alameda Research, Binance Labs, FundamentalLabs, Multicoin Capital, NGC Ventures.
About Binance Labs
Binance Labs is an infrastructure impact fund and an initiative launched by Binance to incubate, invest in, and empower blockchain and cryptocurrency entrepreneurs, projects, and communities. The mission of Binance Labs is to solve the problems that matter most to the ecosystem and change the world for the better.
Binance is a blockchain ecosystem comprised of Binance Exchange, Labs, Launchpad, Info, Academy, Research, Trust Wallet and Charity. Binance Exchange is the leading global cryptocurrency exchange, with users from over 190 countries and regions.
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Original Source: MATH Has Closed $12 Million B Round Funding, Led by Binance Labs