MobileCoin, a new confidentiality-oriented cryptocurrency, announced that Binance Labs will hold another round of fund-raising for this project. During this round, it is planned to collect about $30 million.
The block incubator is connected with the Binance currency exchange, organizes the next investment round, during which it is planned to collect about $ 30 million in Bitcoin (BTC) and Ethereum (ETH). According to TechCrunch, a new cryptocurrency can be added to the largest stock exchange out of turn.
In addition to working with Binance Labs, MobileCoin boasts such talents in its team as Moxy Marlinspike, the founder of Signal’s messenger, as a technical adviser. Shane Glynn, who worked as a product consultant with Google since 2010, and now works with the legal project, ensuring that MobileCoin meets regulatory standards.
In December 2017, MobileCoin published a white paper in which the creators of the project declare their goal to develop a “fast, private and easy-to-use cryptocurrency” that can be deployed in environments with limited resources for users who can not safely your private keys.
MobileCoin intends to use the Stellar Consensus protocol to synchronize with the network and provide scalability and speed, while the final product will be integrated into instant messaging applications:
MobileCoin is designed in such a way that instant messengers, such as WhatsApp, Facebook Messenger or Signal, could integrate with the purse of MobileCoin.
Binance Labs commented on its participation in this project as follows:
MobileCoin as a currency that places emphasis on use in smartphones, plays an important role in the adoption of cryptocurrency. The MobileCoin team and Binance Labs have a common vision for the future, and we are proud to support what they are doing.