MobileCoin cryptocurrency developers raise $66m investment

August 24, 2021


MobileCoin cryptocurrency developers raise $66m investment

Cryptocurrency team MobileCoin has closed a $66 million Series B funding round, the project said in a statement.

Alameda Research, Berggruen Holdings, Coinbase Ventures, BlockTower Capital and others participated in the round.

The funds raised will be used for further product development, including a chatbot payment system and the launch of its own Stablecoin.

The MobileCoin cryptocurrency uses a modified version of the Stellar Consensus Protocol implemented in Rust, and its main purpose is to increase user privacy. Signal founder Moxie Marlinspike is among the creators of the project.

In 2018, the MobileCoin team raised $30 million, with the funding round then led by Binance.

In January 2021, it became known that Signal was testing cryptocurrency payments. In April, the messenger released a beta version with MobileCoin support - UK residents had access to the option.

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