Ethereum Wallet ImToken Raises $10M USD To Fund Global Expansionbr>
China-based cryptocurrency wallet ImToken has raised a $10 million Series A from IDG Capital.
Founded in 2016, ImToken claims to be the world’s largest ethereum digital asset wallet, offering support for 30,000 tokens. The company allows consumers to use their wallet for air drops and initial coin offering (ICO) funds. The company claims that $35 billion worth of funds have been stored in the app over the past calendar year.
ImToken will use the new funding to expand its overseas businesses and to hire more technical staff for product development. The company’s ecosystem of products include Tokenlon, an in-app decentralized exchange on imToken in partnership with 0x and Kyber Network, and the launch of the DApp browser, supporting an ecosystem of mobile decentralized apps.
“imToken has developed its product into one of the top crypto asset wallets in the world with such a sound reputation,” IDG Capital’s Young Guo said in a statement. “We believe it will become a significant infrastructure for the tokenization manifesto, benefiting both the crypto economy and blockchain technology.”
ImToken CEO Ben He said the company currently has fewer than 40 employees and will primarily expand its team in Singapore, Japan, South Korea, Vietnam and Nigeria. He added that they also plan to expand the company’s offerings to institutional investors after building additional security features.
“We are extremely fortunate to have a dedicated team working tirelessly to improve our product, and most important of all, our faithful users from more than 200 countries all over the world, motivating us to build a better imToken,” He said.