MathWallet

About MathWallet

Operating under the Singapore-based Math Global Foundation, MathWallet was introduced in 2018 by co-founder and CTO Eric Yu. Before launching MathWallet, Yu held the CTO position at Zhongtopia, a prominent mutual aid platform in China, and was a co-founder of XunFang Tech. The company has secured significant financial backing, raising a total of $19.8 million over three funding rounds. This includes a $7.8 million Series A round in October 2020, co-led by Alameda Research and Multicoin Capital, and a subsequent $12 million Series B round in December 2020, led by Binance Labs.

MathWallet provides a universal cryptocurrency wallet designed for the Web3 ecosystem, serving a user base of crypto holders, traders, and decentralized application (dApp) users. The wallet's primary function is the storage and management of digital assets across an extensive range of over 150 public blockchains, including major networks like Bitcoin, Ethereum, Solana, and Polkadot. The business model appears to be profitable since early 2020, with revenue generated through services provided within the wallet ecosystem, though specific fees are not detailed. The company has also obtained a Money Services Business (MSB) license from FinCEN in the United States, allowing it to operate within that regulatory framework.

The product is a multi-platform solution, available as a mobile app for iOS and Android, a desktop browser extension, and a web wallet, with all versions syncing across devices. A key feature is its cross-chain functionality, which facilitates token swaps between different blockchains. The wallet integrates a dApp store, giving users access to a curated selection of decentralized applications, DeFi protocols, and NFT marketplaces directly within the platform. For users seeking passive income opportunities, MathWallet offers staking services through its MATH VPoS Pool, where users can stake various cryptocurrencies. The platform also has its own utility token, MATH, an ERC-20 token used for staking rewards and other functions within the ecosystem. Furthermore, MathWallet has developed MathChain, a Layer 2 blockchain built on Substrate, to support its infrastructure. For enhanced security, the wallet offers compatibility with hardware wallets like Ledger and WOOKONG Bio.