Open-Source Cryptocurrency startup, MyCrypto Secures $4 Million in Funding

By StartUp City

MyCrypto, a Los Angeles, CA-based open source interface that enables users to store, send, and receive digital assets, raised $4m in funding.

Polychain Capital led the round with participation from Boost VC Fund 3, ShapeShift, Mainframe’s Mick Hagen, Chance Du (Coefficient Ventures), Ausum Blockchain Fund, early Dropbox employee Albert Ni and Earn cofounder Lily Liu (4T Global).

The company intends to use the funds to continue to expand its development efforts.

Led by CEO Taylor Monahan, MyCrypto provides a suite of tools- users can create new wallets and can also buy, sell, or exchange virtual currencies. The startup recently launched a desktop app that will allow users to manage and use cryptocurrency without online services and protocols.