Japanese Bitcoin Exchange bitFlyer Raises $1.75 Million

Japanese Bitcoin Exchange bitFlyer Raises $1.75 Million

The Japanese Bitcoin market has emerged stronger than ever following the Mt Gox incident. As the adoption of Bitcoin increases in the country, cryptocurrency exchanges in the region are attracting huge investments. The recent investment of $1.75 million in bitFlyer indicates the increasing interest among banking and financial institutions in Bitcoin and cryptocurrency technology. BitFlyer, the leading Bitcoin exchange platform in Japan has received investments from Mizuho Financial Group and Sumitomo Mitsui Financial Group. With the latest round of investment, bitFlyer now has two more prominent names in the country’s financial ecosystem as its investors. Other investors in the platform so far include Tokyo-Mitsubishi UFJ Ltd., SBI Investment, MS&AD,...

Banking Giant Mizuho Invests in Japan's Biggest Bitcoin Exchange

Japan’s largest bitcoin exchange by volume has announced a new round of fundraising. In a press release today, Tokyo-based Bitflyer revealed it had raised new capital from financial firms including Sumitomo Mitsui, Mizuho Financial Group and Dai-ichi Life Insurance Company. A report by Japan-based news source Nikkei indicated that the funding equalled roughly ¥200m ($1.76m). According to statements from the startup, the fundraising follows BitFlyer’s work with Sumitomo and Mizuho on private blockchain solutions aimed at providing the core infrastructure for enterprise use cases. Notably, the funding also comes during what could be a period of increasing competition for the startup. As acknowledged in its release, legislation is slated to become law in...

Identity Startup Cambridge Blockchain Closes $2 Million Funding

Blockchain identity startup Cambridge Blockchain has finished raising $2m in a funding round backed by VC firms Partech Ventures and Digital Currency Group. The investment comes just over a year after Cambridge Blockchain nabbed the top spot at a blockchain startup competition hosted by Banco Santander’s venture capital arm, which included a $15,000 prize. CoinDesk reported last week that the Massachusetts-based company was in the process of raising capital. In interview, CEO Matthew Commons said that the startup plans to use the funding to fuel ongoing technology pilots being conducted with some of its clients. While declining at this time to name the companies involved, he described them as “major financial institutions”. Commons told CoinDesk: “We...

Bitcoin Payments Startup BitPesa Raises $2.5 Million

Bitcoin payments startup BitPesa has raised $2.5m in a new Series A funding round. The round was led by Draper VC, and included support from Greycroft Partners, Blockchain Capital, BnkToTheFuture, Digital Currency Group, Pantera Capital FuturePerfect Ventures and Zephyr Acorn. Of those, Greycroft is a new investor in the startup. The announcement comes just under two years after BitPesa, which operates in markets like Nigeria, Kenya and Uganda, among others, raised $1.1m in a round led by Pantera Capital. Last year, BitPesa received an investment from The BitFury Group. Plans for the year ahead include continuing to focus on customer growth and outreach, with a focus on Nigeria, the startup’s largest market. Founder and CEO Elizabeth Rossiello said in a...

Identity Startup Cambridge Blockchain Raises $1.7 Million

Blockchain identity startup Cambridge Blockchain has raised more than $1.7m in new funding, public records show. According to a Form D published today by the US Securities and Exchange Commission, Cambridge Blockchain has raised $1,785,000 out of a total $2m, indicating that the startup’s funding efforts are ongoing. Previous SEC filings show that the startup began raising funds in March 2016. The documents show that Cambridge Blockchain had raised $635k out of a planned fundraise of $1.5m as of that month, and in a filing from last October, the startup said it had raised $1.09m out of a planned $1.8m. It’s not immediately clear if Cambridge Blockchain intends to raise additional capital past the $2m. That fundraising process began weeks after the...