Some of the industry’s biggest investors participated in MobileCoin’s
Series B.
MobileCoin, a crypto-focused digital payment ecosystem, announced
Wednesday that it has concluded a $66 million funding round as part of a
wider effort to bring more of its products and services to market.
The
Series B had participation from several leading venture funds from
within the blockchain and cryptocurrency industry, including Alameda
Research, BlockTower Capital and Coinbase Ventures. Berggruen Holdings,
General Catalyst, Vy Capital and TIME Ventures also participated.
Several entrepreneurs and investors also contributed to the funding
round.
MobileCoin said the funding will be used to further
develop its core crypto offerings, including MOBot, which is described
as the “first cryptocurrency chatbot payment system.” The company also
plans to expand its merchant services and introduce a new dollar-pegged stablecoin.
While
many people view cryptocurrencies as an alternative asset class, the
technology is considered a major catalyst for enabling seamless
transactions on a global scale. The concept of peer-to-peer payments,
for example, was an important part of Satoshi Nakamoto’s now famous
Bitcoin (BTC) whitepaper. Today, several companies and protocols are working towards unlocking the value of crypto-based payment systems.
Related: Can’t beat ‘em? Join ‘em: Mastercard and Visa make a case for Bitcoin
Companies
that have long dominated the payment arena, such as Mastercard and
PayPal, have already begun accepting cryptocurrency payments for their
customers. During Mastercard’s second-quarter earnings call in August, CEO Michael Miebach said his company has to be in the cryptocurrency space “because people are looking for answers.”
As Cointelegraph reported, Visa has also reaffirmed its commitment to building crypto payment onramps. The payment giant is ultra bullish on stablecoins for their ability to transform global commerce.
Related: What form of digital assets will be the future of payments?
source link : https://cointelegraph.com/news/digital-payment-ecosystem-mobilecoin-raises-66m
