Privacy and security are main selling points for the cryptocurrencies. And now MobileCoin partners with Binance Labs to raise funds for the development.
The Medium post on April 24 by MobileCoin team announced their partnership with a blockchain technology incubator Binance Labs. This partnership is a significant step towards their ultimate goal, not only attracting funds (a hefty sum of $30 million in Bitcoin and Ethereum) for the development, but also, according to TechCrunch, allowing the new cryptocurrency “'priority consideration' for being listed on Binance as part of the relationship.”
And while working with Binance Labs is a significant plus for the investors' peace of mind, the team themselves is quite good. Moxie Marlinspike, the founder of encrypted messenger Signal, is listed as a technical advisor and Shane Glynn, who served in Google since 2010 as a product counsel, continues the trend being the legal counsel for the project, ensuring that MobileCoin satisfies all the most strict of cryptocurrency regulation around the world.
Reportedly, MobileCoin will use Stellar Consensus Protocol to power coin's network and allow for scalability and speed of transactions, for when the coin is integrated into the mobile messaging apps.
Binance Labs commented on the fundraising program:
“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.”