MobileCoin, a new cryptocurrency project, announced a fundraising round led by blockchain technology incubator Binance Labs for $30 million denominated in Ethereum and Bitcoin. The capital will be used to build out its team and processes to deliver the coin.
Binance Labs, which concentrates on pre-ICO projects, said, "A mobile-first, user-friendly cryptocurrency, like MobileCoin, plays a critical role in driving mainstream cryptocurrency adoption. The MobileCoin team and Binance Labs share a common vision and we are proud to be a supporter of what they are doing."
Under the deal, MobileCoin will get priority consideration for being listed on Binance.
In a blog post, MobileCoin Technologist Joshua Goldbard said the new cryptocurrency is designed to be used by everyone, and the system focuses on scalability, usability, and privacy.
Techcrunch reported that MobileCoin is supported by Moxie Marlinspike, the founder of end-to-end encryption messaging app Signal and Open Whisper Systems, since August 2017 as a technical advisor.
Further, the project is backed by Joshua Goldbard, a general partner at hedge fund Crypto Lotus, and Shane Glynn, legal counsel, who has served as senior product counsel at Google since 2010 .
According to MobileCoin whitepaper published in December, MobileCoin is an effort to develop a fast, private, and easy-to-use cryptocurrency that can be deployed in resource constrained environments to users who aren't equipped to reliably maintain secret keys over a long period of time. All these without giving up control of funds to a payment processing service, it said.
MobileCoin is designed so that a mobile messaging application like WhatsApp, Facebook Messenger, or Signal could integrate with a MobileCoin wallet.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.