Bitcoin Mining Giant Bitmain Invests $1.6 Million in Shenzen-Based Bitcoin Trading Platform BitKan

Beijing-based Bitcoin mining giant

announced last week that it has invested $1.6 million in

, a Bitcoin data and trading services provider.

According to the company, Bitmain is the sole investor in the
Series A funding round after the angel round investment from Lanqi
Venture Capital Investment last November.

Based in Shenzen, BitKan initially offered aggregated Bitcoin
news and allowed traders to buy and sell coins using its partner



but the company recently started offering over-the-counter (OTC)
Bitcoin trading services.

Speaking to
Bitcoin Magazine,

Sharif Allayarov, sales and marketing manager for Bitmain, said
that Bitmain and BitKan were already cooperating in areas such as
advertisement and promotion of Bitmain products, and the company
decided to invest in BitKan to help expand its over-the-counter
Bitcoin trading services.

“We decided to invest in BitKan to help expand its OTC (Over the
Counter) business.” Allayaov said. “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.”

Founded by former employees of China-based IT giant Huawei and
launched in October 2013 , BitKanRead more ... source: TheBitcoinNews