Tagged: bitt

October 28, 2020 @ 11:20 am By JD Alois  |  

Medici Ventures has invested $8 million into Bitt, a Barbados-based company. The equity investment into Bitt effectively gives Medici control of the company. Medici Ventures is a wholly-owned subsidiary of Overstock (NASDAQ:OSTK) that focuses on blockchain technology. Bitt was founded in 2013 as an infrastructure… Read More

July 15, 2019 @ 10:42 am By JD Alois  |  

Bitt Digital Inc., a portfolio company of Overstock’s (NASDAQ:OSTK) Medici Ventures, has become the first company to successfully complete the regulatory sandbox by the Central Bank of Barbados and the Financial Services Commission. Medici Ventures invested $4 million in Bitt in early 2016. The investment… Read More

March 6, 2019 @ 12:24 pm By Samantha Hurst  |  

Medici Ventures, a blockchain accelerator and subsidiary of Overstock.com, Inc. (NASDAQ:OSTK) announced on Wednesday its portfolio company Bitt is using blockchain technology to conduct a Central Bank Digital Currency (CBDC) pilot across the Eastern Caribbean Currency Union’s (ECCU) member countries. Founded in 2013, Bitt’s mission… Read More

July 17, 2018 @ 8:30 am By JD Alois  |  

Medici Ventures, part of Overstock (NASDAQ:OSTK), has announced that portfolio company Bitt has appointed  Brian Popelka as President of the Fintech firm. Bitt is based in Barbados and is developing a digital currency ecosystem that seeks to provide a decentralized banking and payment platform. Bitt’s mMoney digital… Read More

April 4, 2018 @ 4:08 pm By Samantha Hurst  |  

Bitt, a Barbados-based fintech company, announced this week it closed its Series A investment round with an investment from retail giant Overstock.com of $16 million, placing the company’s valuation at $50 million. Founded in 2013, Bitt states it utilizes distributed ledger technology to improve speed, efficiency,… Read More

March 15, 2018 @ 7:22 pm By JD Alois  |  

Overstock.com (NASDAQ:OSTK) posted earnings today sharing full year 2017 numbers of revenue of $1.7 billion (-3% growth) and a pre-tax loss of ($47.7) million. Q4 did not help as revenue declined by $456 million with a pre-loss of ($24.9 million). Shares dropped following the news but for many individuals… Read More

March 8, 2018 @ 9:29 am By JD Alois  |  

Overstock (NASDAQ:OSTK) is moving things around once again by boosting its ownership in Bitt.com, a Blockchain based payments platform that is based in Barbados. The move was orchestrated by Medici Ventures, Overstock’s Blockchain subsidiary, and it was part of an option that was exercised to invest… Read More

February 21, 2018 @ 8:58 am By JD Alois  |  

Overstock.com, Inc.(NASDAQ:OSTK) has announced that one of its portfolio companies, Bitt.com, will be providing digital payment services in the Caribbean Island of Montserrat. Bitt.com is based in the Barbados. Montserrat is quite a tiny country with a population of just 4900 people. More people than… Read More

December 20, 2017 @ 2:04 pm By Samantha Hurst  |  

Blockchain platform Bitt announced this week it has launched its new Blockchain Mobile Money App, mMoney digital payment product, in Barbados. The company reported that the Barbados Entrepreneurship Foundation (BEF) and several of its strategic partners participated in the soft launch, which marked the region’s first “digital dollar only”… Read More