A blockchain security company, CoolBitX has announced that it completed a Series B funding round and raised $16.75 million. The funding round was led by the SBI Holdings financial group and also had participation from other players including Japanese financial company Monex, the National Development Fund of Taiwan and the BitSonic crypto exchange.
The blockchain company, based in Taiwan, strives to create the needed infrastructure to properly connect the crypto industry to mainstream opportunities. The company hopes to use this funding to spread its reach past the Asia-Pacific region. Its Sygna offering, as the world’s first-to-market product for virtual asset service providers (VASPs) which is also compliant with the Financial Action Task Force (FATF), will also be spread to other parts of the globe. Sygna was launched in October 2019.
CoolBitX CEO Michael Ou expressed gratitude for the support received since the launch. Michael said that Sygna and CoolWallet S are the ways through which CoolBitX hopes to bridge the gap between the crypto industry and the mainstream market. He then commented on plans that will be made possible with the Series B round.
“This latest funding round is a testament to our vision to help the industry mature and foster the mass adoption of virtual assets…As such, CoolBitX will be establishing a Sygna entity in Japan this year as we are committed to having open dialogues with local stakeholders.”
Image Credits: Pixabay
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