MyCrypto collects $ 4 million in Series A Funding Round
Although the retail crypto market may be in a crisis, venture capital investors seem interested as always, with VC companies pouring millions of dollars in funds in promising cryptocentric projects, products and services on a daily basis. More recently, a cluster of major investors and venture capital firms has stood behind MyCrypto, a wallet solution focused on Ethereum.
As for a Middle post released by the team behind the product, the startup has just raised $ 4 million in a Series A round of financing.
Learn more about the round, our investors and what our future holds: https://t.co/TyaT15rSX0
– MyCrypto.com (@MyCrypto) 30 August 2018
A Leading the round of financing was Polychain Capital, based in San Francisco, which became famous after the founder of the fund Olaf Carlson-Wee brought Polychain and its investors to new levels. Other well-known investors who participated in the startup financing round include Boost VC, Shapeshift, Ausum Blockchain Fund, Mainframe Mick Hagen, Chance Du Of Coefficient Ventures, Albert Ni, Lily Liu and Adam Draper, as per MyCrypto announcement.
What & # 39; s Next For MyCrypto?
For those who are not aware, MyCrypto's ethos is to create what the crypts community needs, as well as create easy-to-use methods to access the blockchain and use cryptographic resources. And so far, this ideology has been stuck, with a team of over 15 talented people who recently rebuilt the wallet product from scratch, adding "lots of new features" and introducing support for a native desktop app in the process.  The startup did not just focus on a portfolio, but also launched an open source Monero (XMR) block explorer called Monero Vision. While this sounds like a monumental task alone, as MyCrypto says "it is not enough", adding that solid foundations have been laid, but the preparation for the "next wave" of cryptocurrency adoption will be an absolute necessity. The press release noted:
These steps have laid a solid foundation for the MyCrypto platform. We must prepare for the next wave of cryptocurrency users entering the space and help ensure that they can interact with the blockchain, play with dapps, exchange coins and tokens, and do so safely safely, and with confidence .
So, what will happen to MyCrypto?
Well, even if the start did not show any specific product, the company intends to "make the encryption easier". Deepening what this meant, the statement found that interfaces should be "less confusing", abstracting distant information that does not need to be in advance "and, above all, make the experience encrypted without friction and without interruptions as any other modern technology.
Expressing the excitement of his idea, Taylor Monahan, founder and CEO of MyCrypto said:
The cryptocurrency market changes and evolves continuously, which can make navigation and difficult and overwhelming understanding for both new and experienced users, we devote ourselves to designing an experience that can further simplify the way people can access and archive cryptocurrency and we are excited to see the overwhelming support we have received from our partners, investors and communities.
So keep an eye on MyCrypto, as the partnerships of the company with its new partners will certainly produce some cryptocentric products that change the world in the near future.
Photo of Vladimir Solomyani on Unsplash