Wallet maker imToken has raised $10 million in Series A funding led by IDG Capital, which has invested in Circle, Ripple and Bitmain. Ben He, imToken's founder and CEO, told MiningPool the company w
Wallet maker imToken has raised $10 million in Series A funding led by IDG Capital, which has invested in Circle, Ripple and Bitmain.
Ben He, imToken's founder and CEO, told MiningPool the company will expand geographically and develop imToken 2.0 "to create an ecosystem where users can conveniently transact, manage and interact with the technology."
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The platform supports Ethereum and ERC20 tokens. He outlined plans to add Bitcoin, EOS and other cryptocurrencies in the coming months. "This is something that a lot of other wallets are unable to deliver due to the complexity of the development needed to see this through," He added.
imToken launched in 2016 and counts more than 4 million monthly active users worldwide. It accounts for 10% of global daily cryptocurrency transactions and processed $35 billion in assets during 2017.
The company's ecosystem includes Tokenlon, an in-app decentralized exchange created in partnership with Kyber Network and 0x, and a decentralized app store for blockchain applications. Users can place standard orders on the exchange. He said the firm plans to introduce "more traditional financial products including options and leverage, to name a few."
The company plans to roll out warnings for fraudulent tokens, notifications of device compromise, and alerts for phishing or theft-associated addresses.
Young Guo, partner at IDG Capital, commented on the investment: "imToken has developed its product into one of the top crypto asset wallets in the world with such a sound reputation. We believe it will become a significant infrastructure for the tokenization manifesto, benefiting both the crypto economy and blockchain technology. We're excited to back imToken."
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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