Math Global Foundation, the group behind MathWallet, has announced a $7.8M Series A+ round from Alameda Research and Multicoin Capital. The funds will be used to enhance the wallets decentralized ecosystem, improve user experience, and monetize other product offerings.
MathWallet Series A+ Round
Math Global Foundation, the Singapore group working on MathWallet, has announced a $7.8M Series A+ round led by Alameda Research and Multicoin Capital.
Alameda Research is a liquidity provider and quantitative crypto trading firm that is based in Hong Kong. The company manages more than $100 million in digital asset. Multicoin Capital is an investment firm that focuses on the cryptocurrency, token, and blockchain verticals. Some of its portfolio companies include Algorand, Arweave, Bakkt, Dune Analytics, Nervos, and others.
MathWallet is a universal cryptocurrency wallet that offers support for mobile, desktop, and hardware. The multi-platform infrastructure allows for cross-chain exchanges across 50+ public blockchains. Some of the popular tokens that MathWallet supports include:
Frank Fu, the CEO of Math Global Foundation stated that:
“We are excited to partner with Alameda Research and Multicoin Capital on this endeavor. While we have been profitable since the beginning of the year 2020 with services provided through MathWallet, we have raised a significant amount of investments from previous rounds of investors that included Fenbushi Capital and Fundamental Labs. We decided to take on additional capital from industry leaders to further expand our business to the global markets and accelerate our core product offering.”
With the additional capital, Math Foundation believes it will have the necessary resources to further enhance its decentralized ecosystem by connecting Solana, Serum, and Math Global to MathWallet. Additionally, the Math Foundation plans to integrate many other blockchains on a global scale.
Sam Bankman-Fried, Founder and CEO of Almeda Research shared equally positive sentiment, stating that they were excited to be working with Math Global. Bankman-Fried believes MathWallet and the Serum ecosystem can create great synergy.
With Fenbush Capital already being involved with MathWallet in previous rounds, Bo Shen, the Founding Partner stated that:
“MathWallet has been making tremendous breakthroughs in blockchain-based financial product engineering. The user growth across the global market has been more than exceptional. In just three years, MathWallet team has taken the company from a humble startup to one of the most widely used crypto wallets, supporting more public blockchains than any other wallets. It is a very exciting space to be in as we start redefining the financial world.”
Other MATH Products
Aside from MathWallet, other product offerings that have been rolled out by MATH include MATH VPoS Pool, MATHDApp-Store, MathStaking, MathCustody, MAthChain, MAthPay, and others.
MATH VPoS Pool
A mining pool that will reward users with MATH tokens and mining rewards. With the flexibility of VPoS Pool, users can earn ~ 30% APR without locking up their assets for long periods of time.
A place where all DApp enthusiasts can go to easily browse decentralized applications.
MathStaking provides the necessary validator framework for various networks. This provides staking tools for blockchains such as Cosmos, IRISnet, Platon Testnet, EOSC, Kusama, CoinEX, Mdukey, Secret Network, and many others.
The MATH cloud wallet gives users the opportunity to structure a crypto portfolio with automated quant trading, earn high interest, pay with crypto, and engage in lending activities.
MathChain is a Polkadot based smart wallet parachain based on substrate.
MathPay is building out payment protocols that they believe will present the easiest ways to accept digital asset payments.
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