Published on July 21st, 2015 | by bitcoin0
BitX Raises $4 Million; Available to ‘Over Half a Billion Consumers
Singapore-headquartered Bitcoin exchange BitX has raised a US$4 million in its Series A funding round led by the South African media firm Naspers through its payments subsidiary PayU.
BitX provides a bitcoin wallet, an exchange, merchant integration and APIs to businesses and consumers across the world, allowing faster and cheaper money transfers, buying online, and trading and storing of bitcoin.
The company says it has the largest emerging market footprint of any cryptocurrency company, available to over half a billion consumers.
James Caviness, chief product officer at PayU, will join the BitX board of directors, and says he sees a bright future for cryptocurrency across a number of industry verticals.
“Given our unique and competitive cost structure this funding round represents a significant capital injection to help expand our business,” Swanepoel said.