MobileCoin, a crypto-centric digital payment ecosystem, reportedly disclosed details of its successfully acquired $66 million via funding, to financially support the release of extra offerings to the market. 

Specifically, the Series B funding round has reportedly witnessed the presence of a variety of top-tier venture funds across the blockchain and crypto sector, nominally Alameda Research, BlockTower Capital and Coinbase Ventures. Berggruen Holdings, General Catalyst, Vy Capital and TIME Ventures. 

MobileCoin reportedly revealed that the freshly acquired funding will be channeled towards further designing its core crypto products and services, including MOBot – which is built to function as the “first cryptocurrency chatbot payment system”. 

The firm additionally looks to widen the scope of its merchant services and roll out a new dollar-pegged stablecoin.

Despite numerous individuals regard crypto as an alternative asset class, the technology is reportedly viewed as the driving force that helps trigger seamless transactions throughout the globe. 

The concept of peer-to-peer payments, for instance, was a major section of Satoshi Nakamoto’s now famous Bitcoin (BTC) white paper. 

In recent times, a wide range of establishments and protocols are reportedly spending extensive efforts in unlocking the value of crypto-based payment systems.

Heavyweights that take up the large share of the pie for a long time such as Mastercard and PayPal have already been adding crypto to its list of viable payment measures for clients. 

During Mastercard’s second-quarter earnings call in August, its Head – Michael Miebach – reportedly revealed that the footprint of his firm throughout the crypto sphere is inevitable, “because people are looking for answers.”