Binance Labs, a subsidiary of the parent company Binance, has led a $ 12 million investment round in favor of MATH, the company behind the multi-platform cryptocurrency portfolio, 'MathWallet'.
The results of the Series B funding round were announced in a post on the Binance Blog on December 17th.
Participants in the financing round led by "Binance Labs" are "NGC Ventures", "Amber Group" and "Capital6 Eagle".
As mentioned in the blog post, the investment will enable MATH to accelerate the upcoming “MathWallet” digital wallet upgrade, create a larger ecosystem of decentralized applications, and provide a more user-friendly experience for customers.
The company will also work with the new blockchain “Binance Smart Chain” to enter new markets and increase its trading volume, as it was among the first portfolios to support the Binance network.
MATH's cooperation with the "Binance Smart Chain" network played an important role in the investment decision, said Mr. Said Wei Chu, Chief Financial Officer of Binance Labs.
Eric Yu, co-founder and Chief Technology Officer of MathWallet, expressed his happiness with the investment and stated that the enhanced partnership between Binance and MATH will expand the portfolio of MathWallet's portfolio into the global market.