Cryptocurrency wallet provider Phantom has secured $ 9 million in Series A funding to launch a new multi-chain wallet that enables decentralized finance (DeFi) users to access decentralized applications (DApps) should help across multiple blockchains.
The pay rise follows a successful beta launch this April with 40,000 new Phantom users. The company also secured $ 500,000 grants from Serum and Solana during the beta phase.
Brandon Millman, Co-Founder and CEO of Phantom, said that his platform enables users to easily access decentralized exchanges (DEXs) and non-fungible tokens (NFT), stating:
“As the world moves into a multi-chain future, the keen interest shown by participants in our beta group shows that our team has developed a DeFi wallet for the masses that is in a unique position around the To offer users added value that is different from any other product on the market. “
Cryptocurrency wallets are the first stop for DeFi users, but the steep learning curve surrounding their use can impact wider mainstream adoption. Phantom has prioritized simplicity in onboarding more wallet users. The Phantom application can be installed as a browser extension on Google Chrome, Microsoft Edge, Brave and Firefox.
Arianna Simpson, partner at Andreessen Horowitz, extolled Phantom’s mission to build a “beautiful functional wallet that bridges assets and provides users with a seamless experience,” adding that her company is excited to partner with the crypto startup.
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Andreessen Horowitz is one of the biggest supporters of Solana projects and earlier this year he spearheaded Solana Labs’ private token sale valued at $ 314 million. The venture firm is behind some of the biggest boosts in the crypto space, providing billions of dollars to blockchain-focused startups.