MobileCoin, a new cryptocurrency from the creator of messaging app Signal, has raised $30 million in Ethereum (ETH/USD) and Bitcoin (Bitcoin) in a fundraising round led by Binance Labs, the major blockchain incubator associated with the Binance exchange.
MobileCoin Technologist Joshua Goldbard said in a blog post that the funds will be used to “build out the team and processes.”
“A mobile-first, user-friendly cryptocurrency, like MobileCoin, plays a critical role in driving mainstream cryptocurrency adoption,” Binance Labs said.
“The MobileCoin team and Binance Labs share a common vision and we are proud to be a supporter of what they are doing.”
Back in December 2017, the project’s creators said in the whitepaper, that “MobileCoin is an effort to develop a fast, private, and easy-to-use cryptocurrency that can be deployed in resource constrained environments to users who aren’t equipped to reliably maintain secret keys over a long period of time, all without giving up control of funds to a payment processing service.”
MobileCoin is designed so that a mobile messaging application like WhatsApp, Facebook Messenger, or Signal could integrate with a MobileCoin wallet, the team said.
By Siranush Ghazanchyan