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.
- 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.