Phantom, the digital asset pockets service supplier, has raised $150 million in a Sequence C funding spherical, taking its valuation to $3 billion. The spherical was led by outstanding enterprise capital companies Sequoia Capital and Paradigm, with further participation from Andreessen Horowitz and Variant.
The funding will pace up Phantom’s mission of turning into the world’s main shopper finance platform. In keeping with the Chief Government Officer, Brandon Millman,
“Our mission has all the time been to make crypto extra accessible, intuitive, and secure for everybody. This newest spherical of funding permits us to speculate additional in innovation and in the end modernize shopper finance.”
A Milestone in Development and Innovation:
Supply: Phantom
Phantom will use the newly acquired capital to launch its upcoming social discovery characteristic and simplify peer-to-peer funds, enhancing the consumer expertise. The $3 billion valuation is a 150% enhance from its $1.2 billion valuation throughout its Sequence B funding spherical in January 2022, which raised $109 million.
At present, Phantom has greater than 15 million month-to-month lively customers and handles over $20 billion in annual swap quantity. The corporate mentioned that its income and buying and selling volumes for the final two months of 2024—when Donald Trump received the U.S. presidential election and market exercise was at a peak—had been multiples increased than these of opponents Coinbase Pockets and MetaMask.
On November 20, 2024, Phantom quickly turned the second most downloaded software within the utilities part of Apple’s App Retailer, simply when the crypto market cap was near $4 trillion.
In December 2024, Phantom introduced assist for the layer-1 blockchain Sui along with Bitcoin, Ethereum, and Solana networks. This aligns with Phantom’s technique of constructing the platform extra inclusive to crypto fanatics.
Based in 2021 in San Francisco, California, by Brandon Millman, Chris Kalani (Chief Product Officer), and Francesco Agost (Chief Expertise Officer), Phantom has rapidly risen as a key participant within the crypto pockets {industry}. Phantom’s pockets providers make it one of the vital broadly used crypto pockets firms. Amongst its core merchandise, Phantom now affords non-custodial choices for NFTs.
Addressing Token Launch Rumors:
On January 3, 2025, Phantom responded to the rumors surrounding a possible token launch linked to its future social discovery characteristic. In a press release on X (previously Twitter), the corporate clarified,
“We’ve seen some hypothesis about an airdrop tied to this characteristic, so to make clear we shouldn’t have any plans to launch a token.”
Future Improvement:
With a user-centric method and robust backing from industry-leading buyers, Phantom is well-positioned to redefine the digital pockets area. Its concentrate on accessibility, innovation, and safety continues to set new benchmarks for shopper finance within the crypto period.
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