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Binance Labs Leads $12 Million Investment Round for MathWallet

Samyuktha Sriram

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Source: Pixabay

Crypto Wallet company, MathWallet just closed a $12 million Series B round of funding led by Binance Labs, the venture capital and incubator of Binance.

The investment round is expected to strengthen MathWallet’s future innovation in DeFi and the blockchain space. This is also a part of Binance Labs’ ongoing initiative to promote DeFi, to build blockchain infrastructure, and support startup innovation.

The round was also co-led by NGC Ventures, C6E (Capital6 Eagle), and Amber Group. MathWallet is a multi-platform universal crypto wallet with over 1 million users, that enables token storage of over 60 chains including BTC, ETH, Polkadot, and BSC. It supports cross-chain token exchange, multi-chain dApp store, and operates nodes for POS chain.

It was one of the first crypto wallets to support the Binance Smart Chain (BSC), and Binance and MATH are reportedly working together to expand into additional markets, bringing more trading volume and users into the ecosystem.

“We have been super impressed with the MATH’s growth since its launch. Their comprehensive coverage of public blockchains and their early support for and cooperation with the Binance Smart Chain were instrumental in our investment decision. We look forward to growing the DeFi ecosystem together with MATH.”, said Wei Zhou, Head of Binance Labs.

Eric Yu, co-founder, and CTO of MathWallet, also commented on the company’s ongoing relationship with Binance, and stated,

“The deep cooperation with Binance Labs and Binance Smart Chain will further expand our business to the global market and continuously breakthrough with product innovation. We believe this is a field full of opportunities and challenges, and our efforts will enable more users to begin their access to the world of blockchain.”


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Samyuktha is a full-time journalist at AMBCrypto. Currently pursuing her Masters in Finance and Business Analytics, she is interested in cryptocurrencies, fintech, and blockchain technology adoption across various sectors.