Web3 Wallet Magic Completes $52M Funding Led by PayPal Ventures

2023-05-31 20:22:43BlockBeatsShare to:

BlockBeats news, on May 31, Web3 wallet Magic announced that it had raised $52 million in strategic financing led by PayPal Ventures, with Cherubic, Synchrony, KX, Northzone and Volt Capital also participating. The new funding round brings the company's total funding to more than $80 million. To date, Magic has generated over 20 million unique wallets and its SDK is used by over 130,000 developers. Magic is a wallet-as-a-service provider that helps businesses onboard users to web3 through instant non-custodial wallet creation. It uses email or social login while removing the need for seed phrases and browser extensions - making it indistinguishable from the standard web2 experience everyday users are used to.

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Price$0.00021553 USDPrice Change (24h)-7.33%Trading Volume (24h)$40.41 USD
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