Press Release (ePRNews.com) - May 12, 2021 - MATH Global Foundation, the Singapore-based foundation behind the development of MathWallet, and Solana, a project implementing a high-performance, permissionless blockchain, today announced a $20 million strategic investment partnership to support innovative companies, teams, and projects working in the Solana ecosystem.
“We’re glad to see MATH Global Foundation investing in the Solana ecosystem, and providing developers with additional resources for scaling their technology and products,” said Anatoly Yakovenko, President of the Solana Foundation.
MATH Global Foundation will leverage its experience in China and the greater Asia-Pacific region to identify opportunities to invest in further development of Solana-based applications, infrastructure, and other cutting-edge use cases.
“We are excited to meet and invest in teams building on Solana,” said MATH Global Foundation CEO Frank Fu. “Promoting development on platforms like Solana is important to our work improving the blockchain experience for more than one million MathWallet users and removing entry barriers for new cryptocurrency users.”
Following successful fundraising of $12.5 million in 2020, including Series A+ led by Alameda Research and Multicoin Capital as well as Series B led by Binance Labs, The MATH Global Foundation continues to invest in the development of blockchain and cryptocurrency ecosystems. MATH recently announced the development of MathChain, a Layer 2 blockchain which serves as a foundational piece of MATH’s plan to build a multi-chain asset hub.
MathWallet is a multi-platform (mobile/desktop/hardware) universal crypto wallet that enables token storage of 60+ chains including Solana, BTC, ETH, Polkadot, Filecoin, and Binance Chain. MathWallet supports cross-chain token exchange, multi-chain dApp store and operates nodes for POS chains. Investors include Fenbushi Capital, Alameda Research, Binance Labs, Fundamental Labs, Multicoin Capital, and NGC Ventures.
Solana is a Layer 1 proof of stake (PoS) protocol delivering decentralized scalability and security for Web 3 applications. As the top-performing blockchain selected by projects with high user activity and transaction volumes, Solana is able to achieve breakneck speeds for transaction processing at an average cost of less than $0.0001. Founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, Solana is the first web-scale blockchain capable of supporting the future growth of decentralized apps, exchanges, platforms, and more.
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