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The Signal app icon. Photo: AP
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Crypto Venture Capital Startups

MobileCoin, Which Powers Crypto Payments on Signal, Valued at $1 Billion

Photo: The Signal app icon. Photo: AP

MobileCoin, a cryptocurrency business with close ties to Signal and its founder, Moxie Marlinspike, has raised more than $75 million in venture capital funding at a $1 billion valuation, more than 10 times higher than at its last financing in March, according to two people familiar with the matter. Founded in 2017, MobileCoin has developed a cryptocurrency and digital payment system designed to facilitate secure, instant transactions on mobile devices.

The new financing comes amid efforts to use cryptocurrency technology for secure payments over popular messaging services. Signal, whose founder Marlinspike has been an adviser to MobileCoin since 2018, launched a payments feature using MobileCoin technology in April.

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