Math Global Foundation announced about completing a $12 million Series B funding round, led by Binance Labs; the round was co-led by NGC Ventures, Amber Group, and Capital6 Eagle (C6E).
Math Global Foundation, based in Singapore, is the company behind Math Wallet and is one of the first crypto wallets to support the BSC (Binance Smart Change). The cyrptowallet is available as an app, web extension, and web wallet. It supports over 54 popular public chains, including Bitcoin, Ethereum, Polkadot, and Filecoin.
The investment aims to accelerate product upgrades for MathWallet, build a broader DApp ecosystem, expand resources, and build greater connectivity in the global market to improve user experience.
The Co-founder/ CTO of MathWallet, Eric Yu, believes that the cryptowallet space has enormous possibilities. Growth has been MathWallet’s priority; the company has grown from a small company to an important member of the crypto ecosystem. Yu further added that Binance’s funding was essential and “will further expand our business to the global market and continuously breakthrough with innovation.”
Head of Binance Labs, Wei Zhou, was optimistic and said that the comprehensive coverage of public blockchains and Math’s cooperation with BSC played an instrumental move in the investment decision.
Binance Labs, based in Malta, aims to grow the blockchain and crypto ecosystem. Since July 2017, it has been active in exploring, evaluating, facilitating, and investing in ideas to increase crypto adoption.
MathWallet has previously received funding from Fenbushi Capital, Fundamental Labs, Alameda Research, NGC, and Multicoin Capital. The previous Series A+ funding round, which was in November 2020, was led by Alameda Research and Multicoin Capital. This investment enabled Math Foundation to build an extensive ecosystem by connecting Serum, Solana, and Math Global with Math Wallet.