The Phantom team was able to raise around $9M in funds from a financing round headed by Andreessen Horowitz (A16z). According to the team, the funding will be used to create new features and access to other blockchain protocols.
The Phantom App is a crypto wallet that makes storing, sending, receiving, collecting, and swapping cryptocurrencies easier for users. Users can simply add the App to Chrome, just like MetaMask. Its featuring ledger support, non-custodial token swaps, NFTs and collectibles, web3 support, and SOL staking.
Some of the Series A funding round participants were Jump Capital, Defi Alliance, Variant Fund, the Solana Foundation, and Garry Tan from Coinbase. Additionally, Compound Finance, dYdX, Lolli, and the Ethereum Foundation also participated in the financing round.
“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”Millman, Phantom team
What keeps the Phantom App in the spotlight is the fact that it started Solana as its first integration. Recently, FTX Pay was linked with Phantom, which means it is now possible to transfer SOL, USDC, and USDT to FTX without a third party through this integration.
In the last weeks, the App already received a big amount of positive feedback from the Twitter community.
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