US-based cryptocurrency platform developer MobileCoin has raked in $66m in a series B backed by Coinbase Ventures, the corporate venturing arm of cryptocurrency exchange Coinbase.
Cryptocurrency trading platform Alameda Research and diversified holding company Berggruen Holdings also featured in the round, along with BlockTower Capital, General Catalyst, Time Ventures, Vy Capital, Gaingels, DreamCrew, 10X Capital, Aglaé Ventures and private investors.
MobileCoin provides a platform to make private cryptocurrency payments from anywhere in the world. MobileCoin aims to complete transactions within seconds – more conducive to everyday transactions – and wants to make sure digital wallets can be easily recoverable.
The money will be used to develop the firm’s product lines like its merchant services buildout and its stablecoin – a type of cryptocurrency pegged to the US dollar.
It will also keep working on facilitating payments on messaging platforms like Signal, whose founder Moxie Marlinspike has been advising MobileCoin since 2018.
The company was last month reported to have raised $75m at a $1bn valuation with investment from the likes of General Catalyst and Future Ventures.
In 2018, the company secured a $30m Bitcoin and Ethereum-denominated investment from blockchain incubator and investor Binance Labs.
