PayPal Ventures supports Magic with USD 52m for web3 revolution


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Magic, a company that offers wallet-as-a-service (WaaS), has successfully raised USD 52 million in a round of strategic funding. The Fintech company offers businesses ways to migrate their customers to web3, which facilitates web3’s widespread adoption.

PayPal Ventures spearheaded the funding round, which also included contributions from a distinguished group of investors, including Cherubic, Synchrony, KX, Northzone, and Volt Capital. With this most recent infusion, Magic has now received an impressive USD 80 million in funding.

The business asserts that its patented technology provides users with total control over their assets and unmatched scalability. Additionally, it complies with a number of legal requirements, such as SOC2 Type 2, CCPA, GDPR, HIPAA, and ISO.

Read More: PayPal Ventures backs Magic with $52m for web3 revolution

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


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