Crypto wallet maker MATH raises $12 million in Series B funding

Cryptocurrency wallet maker MATH has raised $12 million in Series B funding.

The round was led by Binance Labs, with participation from NGC Ventures, Amber Group, and Capital6 Eagle.

With fresh capital at hand, MATH, the organization that is behind the development of MathWallet, looks to expand its products and services, as well as support the growth of Binance's native blockchain Binance Smart Chain (BSC).

"MATH will work with BSC to expand to additional markets, bringing more trading volume and users into the ecosystem," said the organization.

Binance, on the other hand, looks to grow the decentralized finance (DeFi) ecosystem with its native blockchain. In other words, it plans to onboard as many DeFi apps as possible on its BSC network.

MathWallet is a multi-chain wallet, supporting more than 60 blockchains, including Bitcoin, Ethereum, Solana, and Polkadot. It claims to have more than 1 million users.

MATH's Series B comes just two months after it raised Series A in October. At the time, the Singapore-based firm raised $7.8 million in the round led by Alameda Research and Multicoin Capital.

This story has been updated to provide clarity on MATH and MathWallet