MobileCoin, a new privacy-centered cryptocurrency, announced that Binance Labs will lead a $30 mln round of fundraising for the project, according to a Medium post April 24.The blog post stated that the Blockchain technology incubator associated with the Binance cryptocurrency exchange is leading a $30 mln round of investment denominated in Bitcoin and Ethereum.
According to TechCrunch, the new cryptocurrency could "Enjoy 'priority consideration' for being listed on Binance as part of the relationship."
In addition to working with Binance Labs, MobileCoin has on-boarded talent like Moxie Marlinspike, founder of encrypted messaging app Signal, as a technical advisor.
Shane Glynn, who has served as product counsel at Google since 2010, work as legal counsel, ensuring MobileCoin is compliant with crypto regulations.
In the MobileCoin whitepaper published in December 2017, the project's creators described their intention to develop a "Fast, private, and easy-to-use cryptocurrency that can be deployed in resource constrained environments to users who aren't equipped to reliably maintain secret keys over a long period of time, all without giving up control of funds to a payment processing service."
"MobileCoin is designed so that a mobile messaging application like WhatsApp, Facebook Messenger, or Signal could integrate with a MobileCoin wallet."
"A mobile-first, user-friendly cryptocurrency, like MobileCoin, plays a critical role in driving mainstream cryptocurrency adoption. The MobileCoin team and Binance Labs share a common vision and we are proud to be a supporter of what they are doing."
The collaboration intends to support economic development of the East African country by generating employment and attracting investment to the country.
Binance Labs Leads $30 Mln Fundraising Round For New Privacy-Centered Cryptocurrency
Published on Apr 25, 2018
by Cointele | Published on Coinage
Coinage
Recent News
View All
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.