During the last couple of days, two massive investments took place on the bitcoin market, thus once again proving the fact that the cryptocurrency has the potential of facilitating huge fintech projects.
To put things better into perspective, the bitcoin trading platform known by the name of Coinsecure has managed to raise over $1.2 million from the help of a group of undisclosed angel investors from India.
According to the company, the funds will be used to help expand the company’s reach in both the domestic and international markets, while also strengthening the engineering and marketing teams, increasing the number of banking partners and developing an app that will be launched by the end of this month. Together with this, the funds will also be used to introduce a couple of more Ethereum and Blockchain innovations that will help shape the market.
For those that do not know, the Coinsecure platform which has partnered up with Axis Bank, HDFC and Yes Bank allows users to sell, buy and accept bitcoin as a payment form. The company which was initially founded in July 2014 first offered a bitcoin wallet, alongside with trading services. Later on, they launched their Bitcoin exchange at the beginning of 2015, and have since, increased their share of the market significantly.
On the other side of the spectrum, Beijing-based mining giant Bitmain has recently announced that they have invested a total of $1.6 million into a Bitcoin data and trading services provider known by the name of BitKan.
According to BitKan, Bitmain currently represents their sole investor, following the Series A funding round, following the angel round investment that first helped the company, back in November 2015.
When BitKan was still at the start of its road, the company offered bitcoin news, while also allowing traders to buy and sell coins via some of its partner exchanges (BTCChina, Bter and Yunbi). Later on, the company took their business model to the next level and thus started offering over-the-counter (OTC) Bitcoin trading services, thus attracting numerous potential investors.
According to Sharif Allayarov, the marketing and sales manager for Bitmain, We decided to invest in BitKan to help expand its OTC (Over the Counter) business. It is a very attractive business that will provide a platform for people all over the world to trade bitcoin, especially to those living in non-mature bitcoin markets such Africa, South America, and India."
Liu Yang, the BitKan CEO also revealed the future plans for his company, following the $1.6 million investment: “We will register a company in the U.S. as the first step of our globalization strategy. This is the reason that we need investment. We will plan to expand into non-BTC areas to maintain maximum flexibility facing uncertain market condition, but we believe that the soundness of our plans eventually show if we continue to focus on creating values for our customers,"
Based on everything that has been outlined so far, what do you personally think about these investments? Let us know your thoughts in the comment section below.