Media Firm IDG, Ethereum Wallet ImToken Inks $10 Million Deal

IDG $10M Deal

Venture capital firm IDG Capital fully capitalized China-based cryptocurrency wallet imToken with a $10 million in a Series A round.

First coming into the industry as a specialized ethereum wallet service in 2016, ImToken has since branched out to “support a claimed 30,000-plus tokens, including “airdrops” and ICO issuances.

The new equity financing will be used to augment its overseas operations and to hire additional technical people for product research, the firm said in a press release.

The firm, which has fewer than 40 people, will mainly increase its team in Singapore, according to Ben He, ImToken’s CEO. It will establish a presence in Japan, South Korea, Vietnam, and Nigeria.

Without revealing specific details, he stated that the firm will roll out a new security-related product by end-June.

Related Cryptocurrency News