With $150 million in new funding, Solana-focused Phantom Portfolio aims to tackle traditional finance as a next-generation consumer finance platform.

PhantomThe cryptocurrency wallet, which launched in 2021, has raised $150 million in a Series C funding round, co-led by Sequoia Capital and Paradigm, with participation from existing backers including a16z crypto and Variant.

The funding, which brings the wallet's value to $3 billion, will help Phantom accelerate cryptocurrency adoption and work toward becoming the world's largest consumer financing platform, the developers said in a press release. Blog announcement. Phantom has grown rapidly since its debut, attracting 15 million monthly active users, $25 billion in self-custodial assets, and $20 billion in annual swap volume by making cryptocurrencies “safe and easy to use.”

“Our mission has always been to make cryptocurrencies more accessible, intuitive, and secure for everyone. This latest round of funding allows us to invest further in innovation and ultimately modernizing consumer finance.

Brandon Millman, CEO and Co-Founder of Phantom

With the new funding, the wallet plans to push cryptocurrency adoption even further, with the team planning to focus on partnerships, acquisitions and building a “next-generation consumer finance platform.” Additionally, Phantom wants to make “additional strategic investments” in “social discovery features” around its 3.8 million usernames as well as “simplifying peer-to-peer payments,” the developers said.

This move comes on the heels of the recent Phantom addition Of support for but The protocol aims to expand unified storage and trading of cryptocurrencies across the web3 network. While the portfolio started out as Solana- Focused, and has since expanded its support to include networks such as Ethereum,Coinbase-2 layer a baseAnd more.