Binance Labs, the venture capital fund of Binance — the biggest crypto exchange by volume in 2020 — led a $12 million investment round for MATH, the company behind multi-platform crypto wallet MathWallet. The outcome of the series B funding round was announced in a blog post on December 17. Other participants in the round were NGC Ventures, Amber Group, and Capital6 Eagle.
As stated in the blog post, the investment will be enable MATH to speed up the upcoming MathWallet upgrades, create a bigger decentralized applications ecosystem, and provide a more user-friendly experience for their clients.
The firm will also work with Binance’s Smart Chain (BSC) in entering new markets and increasing its trading volume, as it was among the first wallets to support the parallel Binance chain.
MATH’s established cooperation with the Binance Smart Chain played an important role in the investment decision, Said Wei Zhou, CFO of Binance Labs communicated via the blog post.
Co-founder and CTO of MathWallet, Eric Yu, expressed his delight in the investment and shared that the strengthened partnership between Binance and MATH will broaden MathWallet’s business reach to the global market.