Singapore-based FundedHere announced on Thursday that CoolBitX Technology, the creator of wireless hardware wallet for bitcoins, CoolWallet, raised S$280,000 (US$200,000) from venture capital firm Midana Capital Inc. through its crowdfunding platform. The bitcoin startup is looking to use the funds for further research and development, and for marketing itself to Taiwan, Japan, and the bitcoin community.
Along with the funding announcement, CoolBitX revealed it intends to launch its decentralized bitcoin exchange before the end of 2017. This new platform will facilitate bitcoin trades from one CoolWallet to another through a trade matching engine. Users can also make fiat deposits through the platform.
CoolBitX’s CEO and Co-Founder, Michael Ou, stated:
“Bitcoin is already transforming the way we make purchases but for a digital currency to truly take off, users need to be assured that it is both secure and convenient to use. With the support of Midana Capital through FundedHere, CoolBitX is well positioned to make sure Bitcoins are as accessible as a credit card and as secure as a bank.”
Midana Capital Inc.’s Managing Director, Allan Tan, also commented:
“Midana Capital is pleased to invest in CoolBitX, which has developed a unique security solution for Bitcoin transactions. We are confident that our investment in CoolBitX will reap rewards for our clients and contribute to the advancement of blockchain technologies in everyday transactions.”
FundedHere’s Co-Founder and Executive Director, Agnes Siaw, added:
“FundedHere is pleased to provide a funding platform for innovative startups such as CoolBitX. We are always on the lookout for businesses with high growth potential and look forward to being a part of their growth.”
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