Phantom Acquires SimpleHash to Enhance Crypto Wallet Services
Crypto wallet provider Phantom has recently made headlines with its acquisition of SimpleHash, a non-fungible token data platform that supports over 80 blockchains. This strategic move by Phantom aims to further its mission of making cryptocurrency more accessible to users. SimpleHash’s token data platform offers real-time tracking of price movements, NFT metadata, and marketplace activity, providing valuable insights for Phantom users.
“By bringing on SimpleHash, we’re ensuring that Phantom users have the most accurate and comprehensive token data,” stated Phantom CEO Brandon Millman.
Millman emphasized that the addition of SimpleHash will enhance the usability of Phantom’s multi-chain wallet, ultimately improving the overall user experience. As part of the acquisition, the SimpleHash team will integrate into Phantom, leading to the phasing out of the platform’s current services. This marks the third acquisition by Phantom in the past year, showcasing the company’s commitment to growth and innovation.
In a previous acquisition in May 2024, Phantom acquired Bitski, an embedded wallet provider with partnerships with renowned brands such as Adidas, Major League Soccer, and WWE. Solana co-founder Raj Gokal expressed his support for Phantom’s efforts, highlighting the positive impact on the Solana ecosystem.
“Phantom is doing great work to simplify things and improve the overall user experience, and we couldn’t be happier to support their efforts,” said Gokal.
Following their recent acquisition spree, Phantom also acquired fraud protection and web3 security platform Blowfish in November. These strategic moves are integral to Phantom’s goal of becoming the leading crypto wallet in the Solana ecosystem. The company’s Series C funding round, which raised $150 million, further solidifies its position in the market. With investors like Sequoia Capital and Paradigm leading the round, Phantom is well-equipped to continue building a top-tier finance platform for its users.