BEIJING - Chinese cryptocurrency wallet imToken has raised $10 million in a Series A funding round from IDG Capital, the company announced Thursday.

Founded in 2016, imToken is the world's largest Ethereum wallet, with over four million monthly active users from over 200 countries and regions, according to the company.

The Ethereum wallet is based on a decentralized platform that is fraud-proof. It is one of the major applications of blockchain.

The new financing will be used to expand its overseas businesses and hire more technical professionals for research and development, according to He Bin, founder and CEO of imToken.