cryptocurrency

Wallet-as-a-Service Provider Magic Closes $52M Round Led by PayPal Ventures

In a pivotal development that further consolidates the emergence of web3, Magic, the leading wallet-as-a-service (WaaS) provider, has successfully amassed a strategic investment worth $52 million.  The investment round, spearheaded by PayPal Ventures, also witnessed participation from notable entities like Cherubic, Synchrony, KX, Northzone, and Volt Capital, bringing Magic’s total funds raised to over $80 million. Magic is driving the mass adoption of web3 by offering a formidable WaaS solution to companies seeking secure, efficient transitions to web3. The company’s revolutionary services have facilitated companies to tap into rewarding opportunities in areas such as customer loyalty programs, digital collectibles, employee