Solana networks Phantom wallet reaches $1.2b valuation, launches iPhone app
Solana based crypto wallet Phantom has become a “crypto unicorn” after a US$109 million Series B funding round puts it at US$1.2 billion in market value.
The round was led by Paradigm with participation from investors including a16z, Variant, Solana Ventures, and Jump Crypto, who formed part of the funding for Phantom’s Series A funding in July 2021.
“The team at Phantom is honoured to work with these incredible partners and to have their trust in executing our vision to bring Web3 to the broader world. It is clear that the explosive adoption of NFTs and DeFi has underscored the tremendous role crypto wallets have in providing a user-experience that is safe, fun, and easy-to-use,” the company said in a statement.
The project claims to have gained more than two million monthly active users in the six months after launch. Phantom said the funds will be used to onboard new users and developers to Web3, improve utility and security for their product, and grow their own product development and community support teams.
Phantom wallet launches on iPhone app
In addition to the funding announcement, Phantom unveiled the launch of its iOS application for its non-custodial wallet, allowing users to send, receive, and store $SOL and NFTs, as well as stake $SOL.
Phantom stated that the launch of its mobile apps is its “first-step” in becoming the “mainstream, user-friendly gateway to Web3,” and said a wallet for Android phones is “coming shortly”.
Currently, Phantom users have staked over 112.4 million $SOL through the wallet, which translates to US$12.2 billion worth of the coin, have swapped US$1.37 billion in tokens and made 55.2M NFT, DeFi and app transactions.
Disclosure: At the time of writing, the author of this article owned a Phantom wallet, SOL, and other cryptocurrencies.