Web3 developer Magic raises $52M in funding led by PayPal Ventures By Cointelegraph
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On May 31, San Francisco-based wallet-as-a-service (WaaS) provider Magic announced that it had successfully raised $52 million in a strategic funding round led by PayPal (NASDAQ:) Ventures. The funding round also saw participation from venture firms Cherubic, Synchrony, KX, Northzone, and Volt Capital, bringing Magic’s total funds raised to over $80 million.
Magic’s software is currently used by brands in retail, music, fashion, and gaming, including Mattel (NASDAQ:), Macy’s (NYSE:), Xsolla, and Immutable. With the funding, Magic aims to increase adoption by providing authentic digital ownership opportunities and plans to expand functionality, enhance use cases, and deepen integration within the European Union and Asia-Pacific region.
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© Reuters
On May 31, San Francisco-based wallet-as-a-service (WaaS) provider Magic announced that it had successfully raised $52 million in a strategic funding round led by PayPal (NASDAQ:) Ventures. The funding round also saw participation from venture firms Cherubic, Synchrony, KX, Northzone, and Volt Capital, bringing Magic’s total funds raised to over $80 million.
Magic’s software is currently used by brands in retail, music, fashion, and gaming, including Mattel (NASDAQ:), Macy’s (NYSE:), Xsolla, and Immutable. With the funding, Magic aims to increase adoption by providing authentic digital ownership opportunities and plans to expand functionality, enhance use cases, and deepen integration within the European Union and Asia-Pacific region.
Continue Reading on Coin Telegraph
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