SINGAPORE, Nov. 3, 2020 /PRNewswire/ -- Math Global Foundation, the Singapore based foundation behind the development of MathWallet which supports more than 50 public blockchains worldwide, announced an investment from Alameda Research, a leading quantitative cryptocurrency trading firm and liquidity provider headquartered in Hong Kong. This round of financing also includes well-known blockchain investment firms such as Multicoin Capital.
The Strategic investment from Alameda Research will enable Math foundation to build out more extensive decentralized ecosystems connecting Solana, Serum, and Math Global with its signature product known as MathWallet, together with other major blockchains globally; aiding cooperation on products and providing a more friendly experience for users.
"We are really excited to be working with Math Global across many adventures. As one of the leading wallets in the space, MathWallet has a ton to bring to the Serum ecosystem," said Sam Bankman-Fried, Founder and CEO of Alameda Research.
"MathWallet has been making tremendous breakthroughs in blockchain-based financial product engineering. The user growth across the global market has been more than exceptional. In just three years, MathWallet team has taken the company from a humble startup to one of the most widely used crypto wallets, supporting more public blockchains than any other wallets. It is a very exciting space to be in as we start redefining the financial world," said Bo Shen, Fenbush Capital Founding Partner.
"Having the opportunity to co-invest with Alameda Research in MathWallet enables us to bring onboard strategic partners to their existing strong alliances with important maker players. Together we will support MathWallet's continuous dedication to innovation," said Kyle Samani, Founding Partner of Multicoin Capital.
"We are excited to partner with Alameda Research and Multicoin Capital on this endeavor. While we have been profitable since the beginning of the year 2020 with services provided through MathWallet, we have raised a significant amount of investments from previous rounds of investors that included Fenbushi Capital and Fundamental Labs. We decided to take on additional capital from industry leaders to further expand our business to the global markets and accelerate our core product offering," said Frank Fu, CEO of Math Global Foundation.
Please follow MathWallet @MathWallet on Twitter for details and forthcoming announcements.
About Alameda Research; Alameda Research was founded in October 2017. It manages over $100 million in digital assets and trades $600 million to $1.5 billion per day. Alameda Research has a full-scale global operation with the ability to trade on all major exchanges and markets.
About Multicoin Capital: Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets. Multicoin Capital manages a hedge fund and a venture fund, investing across both public and private markets.
About MathWallet: MathWallet is a multi-platform universal crypto wallet that enables storage and cross-chain exchanges of over 50 major public blockchain tokens such as BTC, ETH, and Polkadot.
SOURCE Math Global Foundation