Quoine raises $16 million for bitcoin exchange of exchanges

Singapore-based Quoine, the startup offering a bitcoin exchange and other cryptocurrency-related services, announced today that it has secured a total of $16 million in a series B round.Following a series A round when the company raised $2 million from several angel investors back in December of 2014, this round was led by Japanese investment company Jafco with participation from an unnamed VC firm and several unnamed businesses. Since this round is not closed yet, the company said that it may additionally raise up to $4 million from potential business partners.

According to cryptocurrency portal Coinhills’ real-time ranking of global bitcoin exchanges in volume of transactions, Quoine is ranked in 7th place following Chinese six exchanges in a craze of speculation. This list obviously indicates Quoine being Japan’s largest bitcoin exchange followed by BtcBox and bitFlyer as well as one of the world’s leading bitcoin exchanges. Given that the annual amount of foreign-exchange(FX) trading in Japan has reached about $50 trillion, Kayamori predicts about 10% of these transactions being replaced by cryptocurrencies in the future. Quoine transacts bitcoins worth of $50 million a day, but he thinks it will be able

Read more ... source: TheBitcoinNews