The MobileCoin team closed a Series B funding round worth $66 million. This is stated in the project’s announcement.
Participants in the round included Alameda Research, Berggruen Holdings, Coinbase Ventures, BlockTower Capital, and others.
The raised funds will be used to advance product development, including a chat-bot system for payments and the launch of its own stablecoin.
MobileCoin uses a Rust-based modified version of the Stellar Consensus Protocol, with the main aim of enhanced user privacy. Among the project’s founders is Signal founder Moxie Marlinspike.
In 2018, the MobileCoin team raised $30 million. The funding round was led by Binance.
In January 2021 it became known about testing cryptocurrency payments in Signal. In April the messenger released beta version with support for MobileCoin — access to the option was available to residents of the United Kingdom.
Read more about MobileCoin and the project’s ties to the founder of Signal in ForkLog’s article.
Subscribe to ForkLog news on Facebook!