Cryptocurrency wallet provider Phantom has secured $9 million in Series A financing to launch a new multi-chain wallet designed to help decentralized finance (DeFi) users access decentralized applications (DApps) across multiple blockchains.
The raise comes on the heels of a successful beta launch in April of this year that saw 40,000 new Phantom users. The company also secured $500,000 in grants from Serum and Solana during the beta phase.
Brandon Millman, Phantom’s co-founder and CEO, said his platform enables users to easily access decentralized exchanges (DEXs) and nonfungible token (NFT) platforms, explaining:
“With the world moving into a multi-chain future, the strong interest from the participants in our beta group indicates that our team has designed a DeFi wallet for the masses, one that’s in a unique position to provide value to users unlike any other related product on the market.”
Cryptocurrency wallets are the first point of contact for DeFi users, but the steep learning curve around their use may be impacting