Crypto payments project MobileCoin raises $66 million in Series B funding

Aug 18, 2021 | The Block News | 0 comments

crypto-payments-project-mobilecoin-raises-$66-million-in-series-b-funding

MobileCoin, a crypto payments project, announced Wednesday that it raised $66 million in its Series B funding round. 

Participants in MobileCoin’s most recent round include Alameda Research, Los Angeles-based investment firm Berggruen Holdings, BlockTower Capital, Coinbase Ventures, General Catalyst, Time Ventures, and Vy Capital, according to a release.

MobileCoin intends to use the Series B funding to build out a crypto chatbot service called MOBot, merchant services support, and a stablecoin pegged to the U.S. dollar. 

MobileCoin completed its Series A funding in March with $11.5 million from Future Ventures and General Catalyst, and now has a total of $107 million in backing. 

MobileCoin is a cryptocurrency project that strives to give users quick and private crypto transactions. The MobileCoin cryptocurrency is not available for individuals in the United States, though it is available on the exchanges FTX, Bitfinex, BigOne, and HotBit. 

Moxie Marlinspike, the creator of the encrypted messaging app Signal, technically managed MobileCoin early on in the project’s development. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

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