Phantom, a cryptocurrency wallet, has announced a $109 million Series B fundraising round led by Paradigm, crypto and Web3-focused investment firm. The new funding boosts the project’s total value to $1.2 billion.
In a prepared statement, Phantom CEO Brandon Millman remarked, “It’s remarkable to witness the expansive growth that has happened in just under a year since our beta launch.” Solana traders can use the Phantom wallet to connect with Decentralized Finance (DeFi) protocols and non-fungible assets (NFTs).
Phantom is Solana’s equivalent of Ethereum’s MetaMask. Users can borrow money, earn interest on their tokens, and trade with one another. Phantom has received money as well as new functionality.
The Phantom wallet app
Aside from the investment news, the wallet provider also revealed today that its app for iOS devices is now available for download. Users may store, send, and receive tokens and NFTs, as well as stake Solana, using the wallet’s iOS app (SOL).
“We hope to offer a cross-platform entry point for mainstream users to interact with blockchain apps with the launch of our smartphone application,” Millman noted.
Fred Ehrsam, Paradigm’s co-founder and managing partner, is similarly upbeat. Crypto wallets, he argues, are “on a path to becoming the container for everything in your digital life,” and wallets like Phantom are vital to attract “billions more people into crypto.”
Chris Kalani, the wallet’s chief product officer and co-founder, had stated that the wallet had just reached 1.2 million weekly users.
Despite being an Ethereum-focused environment, leaked photos revealed that NFT marketplace OpenSea may soon be adding support for Solana NFTs and Phantom.
“The team has constantly increased the bar for wallet usability since Phantom’s inception in early 2021. “Phantom is Solana’s most popular wallet, and the team is one of the best at leveraging Solana’s unrivaled performance to provide a world-class UX,” stated Raj Gokal, co-founder of Solana.
