The biggest crypto wallet you've never heard of is flourishing. San Francisco-based Magic announced on Wednesday that it's raised $52 million in a round led by PayPal Ventures that values the firm at just under $500 million.
While there are plenty of options when it comes to crypto wallets—including one offered by PayPal—Magic has made a name for itself by building a white label version that lets corporate clients provide wallets en masse to customers, many of whom are unfamiliar with seed phrases, private keys, and other elements of Web3.
