imToken, Asia’s largest crypto wallet company, today announced the completion of $ 30 million Series B financing from Qiming Venture Partners, with the participation of its leading Series A investor, IDG Capital, and new investors such as Breyer Capital, HashKey, Signum Capital and Longling Capital, SNZ and co-founder of Fosun International, Mr. LIANG, Xinjun.
ImToken’s digital wallet platform, founded in 2016, enables 12 million users from over 150 countries to manage and protect a wide range of blockchain and token-based assets, identities and data. There are currently over $ 50 billion in assets placed on the platform and the total transaction value via imToken has exceeded $ 500 billion.
With this investment, imToken aims to accelerate the development of its next iteration, imToken 3.0. For imToken 3.0, imToken intends to fundamentally improve the way users interact with blockchain services by implementing keyless accounts, account recovery, and other features that allow users to easily and securely access a variety of blockchain networks and applications can access.
In addition to its free, non-custody wallets, ImToken plans to provide secure and convenient access to a range of DeFi (decentralized finance) services in imToken 3.0, a jump into the centralized digital wallet. The company’s goal is to further lower the barrier to entry for cryptocurrency newbies by building a robust ecosystem of interconnected products.
In addition, the newly raised capital will be invested in building a research branch called imToken Labs to further research and apply the advanced blockchain technology in imToken products and services. It will also be used to bolster imToken’s research, marketing, and operations recruitment efforts and set up more offices around the world.
“We are very excited to work with such a savvy and experienced group of investors inside and outside the crypto space,” said He Bin, CEO and Founder of imToken. “Since our inception five years ago, we have recognized the tremendous potential of blockchain technology and the challenges the industry is facing in terms of the need for an improved user experience, secure key management and a scalable network. With the support of our investors, we are well positioned to meet these challenges and expand our platform beyond our wallets. With this, we are focusing on the usability of a wide range of decentralized services with the aim of serving more than 100 million users over the next five years. “
imToken has taken huge strides to grow the broader decentralized ecosystem, including launching imToken Ventures in 2018 to invest in companies connected to the digital wallet ecosystem. One of imToken’s incubated projects, a decentralized exchange called Tokenlon, has now enabled over $ 10 billion in trading volume. With imKey, the hardware wallet from imToken, users can easily manage popular digital assets on their mobile devices via Bluetooth.
“We have had an eye on imToken since the beginning of our involvement in the crypto space and have been extremely impressed with what they have accomplished to date,” said Guo Yihong, partner at IDG Capital. “We believe that much of their success comes from their disciplined focus on user experience and ease of use, and we look forward to helping them apply that focus to a wide range of services beyond their core offerings.”