In a Medium blog Joshua Goldberg, technologist as MobileCoin noted that they are announcing a fundraising round led by Binance Labs for $ 30 million USD which is dominated by Ethereum and Bitcoin. There have been rumors about the new cryptocurrency could enjoy priority consideration for being listed on Biance as part of their relationship.
Binance lab stated: “As one of the market leaders in the space, our mission at Binance Labs is to help advance blockchain technologies and grow our collective crypto ecosystem. A mobile-first, user-friendly cryptocurrency, like MobileCoin, plays a critical role in driving mainstream cryptocurrency adoption. The MobileCoin team and Binance Labs share a common vision and we are proud to be a supporter of what they are doing.”
MobileCoin will use this capital to build their team and processes as they deliver the product. They are now recruiting engineers for their core team. Especially those who have worked on large systems (greater than 10,000,000 daily active users) in a senior role and enjoy working on the low-level code.
In addition to working with Binance Labs, MobileCoin has on-boarded talent like Moxie Marlinspike, founder of encrypted messaging app Signal, as a technical advisor. Shane Glynn, who has served as product counsel at Google since 2010, work as legal counsel, ensuring MobileCoin is compliant with crypto regulations.
Jackson Palmer, creator of DogeCoin and a prominent figure in the cryptosphere had questioned the involvement of Marlinspike with MobileCoin pointing out that “the lack of a Github repo or an open source code doesn’t seem like his style.” It is pretty odd for a blockchain based project to not have a GitHub repository.
Binance has been making news recently from all sectors they work in and beyond. Just last week they were making headlines by partnering with Ugandan Blockchain organization Crypto Savannah to aid in the economic development of the east African country.