- After this new funding, the wallet plans to boost crypto adoption even further, having the team have the plan to aim for collaboration and accession.
- The step is taken after the latest addition of Phantom of support for the Sui protocol, targeted at widening unified crypto storage as well as trading over Web3.
- As per the blog post, last year, Phantom made its first and second acquisitions, Bitski and Blowfish, to make crypto secure and easy to use.
A privacy-based layer-2 solution, Phantom has generated around $150 million in its Series C funding round, collaboratively led by Sequoia Capital and Paradigm, having participation from current supporters including a 16z crypto and Variant.
The funding took the overall estimation of the wallet to $3 billion, which will aid Phantom boost crypto adoption and work toward becoming the largest consumer finance platform in the world, as per the developer’s revelation in the blog.
Phantom has covered the market rapidly since it was introduced, captivating 15 million active users on a monthly basis, $25 billion in self-custody assets, having $20 billion in annual swap volume by building crypto-secured and easy-to-use.
What did the CEO of Phantom say?
The chief executive officer and co-founder of Phantom, Brandon Millman stated that our aim has always been to make crypto more accessible, instinctive, and secure for everyone. This recent round of funding permits us to invest further in revolution and finally, modernize consumer finance.
After this new funding, the wallet plans to boost crypto adoption even further, having the team have the plan to aim the collaboration, and accession and make the next-generation consumer finance platform.
Adding more to this, Phantom wishes to make another strategic investment into social discovery features around its 3.8 million usernames along with stratifying peer-to-peer payments, as per the developers.
The Support for Sui Protocol
The step is taken after the latest addition of Phantom of support for the Sui protocol, targeted at widening unified crypto storage as well as trading over Web3. The global head of ecosystem at Sui Foundation, Jameel Khalfan appreciated the team for protecting Phantom Wallet support, saying that the collaboration will give the Sui community with most requested features.
Talking about Phantom is a non-custodial crypto wallet mainly designed for the Solana blockchain, permitting users to store, manage, and interact with different cryptocurrencies and NFTs over various dApps. At the same time, the wallet initiated as Solana-focused, it has since widened its back to comprise networks such as Ethereum, Coin base’s layer-2 Base, and more.
As per the blog post, last year, Phantom made its first and second acquisitions, Bitski and Blowfish, to make crypto secure and easy to use. The acquisition made a significant position in aiding us to make crucial wallet infrastructure and secured security features.
We are going to reiterate strategic collaborations and acquisitions to make the required infrastructure for crypto to go mainstream.
