MobileCoin

MobileCoin

Stablecoin-backed digital payments platform for businesses

Overview

MobileCoin provides a digital payments platform built on stablecoins, enabling businesses to transact in eUSD. eUSD is a stablecoin backed 1:1 by a basket of top-rated stablecoins that are themselves fully collateralized with USD or USD equivalents. Transactions are settled in eUSD, bypassing traditional fiat currencies. The company also offers APIs, SDKs, and security audits to support developers and maintain a secure ecosystem, with open-source technology that allows public audits for transparency. Revenue comes from transaction fees and partnerships with third parties that expand service offerings. The goal is to deliver secure, efficient, and transparent digital payments for businesses by leveraging blockchain and stablecoins.

About MobileCoin

Simplify's Rating
Why MobileCoin is rated
C-
Rated C on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

Fintech

Crypto & Web3

Financial Services

Company Size

11-50

Company Stage

Series B

Total Funding

$182.4M

Headquarters

San Francisco, California

Founded

2018

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Simplify's Take

What believers are saying

  • SEC classified Stellar as digital commodity on March 17, 2026.
  • Sara Drakeley appointed CEO on Sept 13, 2023 to drive growth.
  • Raised over $100M funding since 2017 for global expansion.

What critics are saying

  • MOB token at $0.16 with $32M cap faces whale dumps crashing value.
  • Signal abandoned 2022-2023 integration, blocking WhatsApp partnerships.
  • eUSD depegs from USD pools during 2025-2026 stablecoin runs.

What makes MobileCoin unique

  • MobileCoin launched eUSD stablecoin in Oct 2022 with Reserve.
  • First carbon-negative cryptocurrency using Stellar Consensus Protocol.
  • Integrates privacy from Monero's CryptoNote and zero-knowledge proofs.

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Funding

Total Funding

$182.3M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$65M
Substack
$66M
MobileCoin
$100M
ClickUp

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

3%

2 year growth

3%
MobileCoin Inc.
Jan 9th, 2024
MobileCoin's Statement on $MOB and Binance

In Oct. 2022, in collaboration with Reserve, MobileCoin launched eUSD, a first-of-its-kind token that is tied directly to USD through pools of multiple stablecoins.

GlobeNewswire
Sep 13th, 2023
MobileCoin Announces New CEO to Lead Company Into Next Phase of Its Global Development

SACRAMENTO, Calif., Sept. 13, 2023 (GLOBE NEWSWIRE) -- MobileCoin, the company aiming to create a world where you can pay anyone, anywhere, instantly and securely, today announced the appointment of Sara Drakeley to the post of Chief Executive Officer.

Fastnewsfeed
Sep 1st, 2023
MobileCoin Launches an eUSD Stablecoin | Gagarin News

MobileCoin, a provider of cryptocurrency services, has recently announced the launch of its own eUSD stablecoin.

CNN
Apr 6th, 2023
Bob Lee, Cash App founder, dead after apparent stabbing attack in San Francisco | CNN Business

Lee joined MobileCoin, a cryptocurrency and digital payments startup, in 2021 as its chief product officer.

PYMNTS
Apr 5th, 2023
Cash App Founder Bob Lee Killed In Stabbing

The founder of Cash App has reportedly been killed in a stabbing in San Francisco.According to multiple news reports Wednesday (April 5), Bob Lee, who had become the chief product officer at crypto firm MobileCoin, was fatally attacked early Tuesday (April 4).A report by the San Francisco Chronicle — citing police department sources — said Lee was the subject of a statement issued by the department of a 43-year-old man found suffering from apparent stab wounds.“Officers rendered aid and summoned medics to the scene,” the police report said. “The victim was transported to a local hospital with life-threatening injuries. Despite efforts by first responders and medical personnel, the victim succumbed to his injuries.”Police said in the report that the death is under investigation and no suspects have been identified.Lee’s killing drew outrage among people in the tech sector about the state of San Francisco, but also an outpouring of fond memories.“He was made for the world that is being born right now,” MobileCoin’s Moby App said in a statement on the company website. “Bob was a child of dreams, and whatever he imagined, no matter how crazy, he made real. Bob was made for the new world.”The statement outlined Lee’s resume, which includes time at Google’s Android; his role as the first chief technology officer of Square, where he launched Cash App; and his work at MobileCoin.Joshua Goldbard, MobileCoin’s founder, tweeted Wednesday that Lee was “like a brother.”1/ Thread 🧵 .@crazybob was an incredible human being. Saying bob’s name in the past tense feels ridiculous

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