They raised more than $10 million during their round of Series A funding. They claim to operate the world's largest ether wallet. They have more than 4 million active users. This is the case of ImToken, a startup wallet for cryptocurrencies based in China.
Now, the company is starting to add EOS support to its multi-currency wallet. Which previously could only support Bitcoin (BTC) and Ethereum (ETH). These new implementations that the platform is having and the interest in EOS could generate ecosystem scalability.
Motivation for Implementation
What motivated this brand to launch a wallet for EOS before other more established cryptocurrencies was the fact that they previously supported ERC-20 tokens, which generated immense traction on their platform, which led them to build their EOS DPOS wallet.
When making the development decision, they also took into account the comments of their users and the high demand from those looking for an EOS wallet at this time. As a result, when EOS launched its mainnet, ImToken wanted to support these users as they being Ethereum's largest wallet, they realized that there has been a natural crossover with the growing interest in EOS.
Currently, 24% of EOS's trade volume comes from South Korea. And it is no coincidence that this is also the second largest market for imToken now.
EOS in China and the East
Chinese users see in cryptocurrencies a profitable solution because of the financial incentives that come from the acquisition and ownership of tokens such as EOS. In the rest of the Eastern Hemisphere they believe that EOS is a technical advance that will help blockchain technology deal with problems such as scalability and performance across the chain.
EOS is presented as one of the best alternatives as a new technology. Although there have been problems and drawbacks that have arisen as a result of your introduction and launch of their mainnet, it is only a matter of time before everything goes as expected. Users in China see the potential of this technology and how the concept that EOS has introduced fits naturally.
imToken Future Plans
They want to focus on supporting EOS tokens and plan to integrate only the currencies they consider to be demanded by their users in Asia. Recently, the CEO of imToken, Ben He, considered that
“new currencies to incorporate to our company, must comply with innovations for the market as EOS and must be consolidated in a technology as stable as Ethereum”.
The company plans to offer chain government tools, and other ecosystem toolkits that will support its users who are investing in the EOS ecosystem. They have recently opened their participation voting system code, which can be found here: https://github.com/consenlabs/eos-stake-vote-dapp
imToken hopes this will encourage developers to build their own DAPPs that can be designed or developed around tools that encourage more EOS users to vote or participate in their government.