Phantom Secures $150M Funding to Disrupt Traditional Finance with Innovative Blockchain Solutions
Phantom, a prominent digital asset wallet provider, has successfully raised $150 million in a Series C funding round, achieving a remarkable valuation of $3 billion. This significant investment round was co-led by Sequoia Capital and Paradigm, with participation from its existing investors, including a16z and Variant.
About Phantom
Established in 2021, Phantom is dedicated to enhancing accessibility and user-friendliness for digital assets. The platform features a self-custody wallet that enables users to interact with millions of digital assets across various blockchains. Some of the key features include:
- Fast and low-cost transactions
- Seamless user experience
With these features, Phantom has attracted a significant on-chain user base, claiming 15 million monthly active users and managing approximately $25 billion in self-custody assets.
Utilization of Funds
The recent funding will support Phantom in its mission to revolutionize consumer finance by accelerating the adoption of digital assets. The company plans to:
- Expand its infrastructure
- Invest in strategic acquisitions
- Introduce social discovery features to enhance peer-to-peer payments
Recent Acquisitions
In 2024, Phantom strengthened its wallet security and infrastructure by acquiring Bitski and Blowfish. These acquisitions are aimed at making the platform more intuitive and accessible to a wider audience.
Looking Ahead
Future investments will focus on further enhancing Phantom’s offerings and user experience, ensuring it stays at the forefront of the digital asset landscape. For more updates, visit Phantom’s official website.
