Japanese Bitcoin exchange bitFlyer raises $4 million

Japanese Bitcoin exchange bitFlyer raises $4 millionJapanese Bitcoin exchange bitFlyer raises $4 million

Akasaka (赤坂 “Red Slope”), a residential and commercial district of Minato, Tokyo. bitFlyer’s office is located inside the Strong Akasaka Building located in this district.

bitFlyer Inc., a Japanese-based Bitcoin exchange, announced Wednesday it has raised about ¥510 million (or $4 million) in a new round of funding.

CEO Yuzo Kano said in a statement posted on bitFlyer’s website that participants in this venture capital round included Mitsubishi UFJ Capital Co., Ltd.; Dentsu Digital Holdings, Inc.; QUICK Corp.; MITSUI SUMITOMO INSURANCE Venture Capital Co., Ltd; and Venture Labo Investment Co., Ltd.

Since the company’s previous funding closed in January (EconoTimes reported that bitFlyer raised $1.1 million in that round), bitFlyer has introduced several new services: bitFlyer Lightning, a Bitcoin exchange tailored for professionals; chainFlyer, a website that offers a visualization of the blockchain; a bitFlyer application for Android; adFlyer, an advertisement service built on Bitcoin; and new developments in multi-signature security.

Kano said the company will use the funds raised in this latest round to develop a more robust security environment

Read more ... source: CoinReport