Bitcoin companies are seeing significant interest from investors all over the world. Quoine, a Singapore Bitcoin exchange, has recently raised US$20m in VC funding. This is quite a step up from the company’s previous investment round, which was worth ‘only” US$2m.
It is interesting to note. Bitcoin exchange Quoine is based in Tokyo, despite being a Singapore platform. However, this new investment round will help the company move its headquarters from Tokyo to Singapore in the coming months. There is also a Singapore office, which will continue operating as a subsidiary.
Quoine Focuses On Asian Market
The primary focus for the Quoine Bitcoin exchange has always been on the Asian market. This new investment round will not change that situation, as it will strengthen the company’s position in the region. Since most of the Bitcoin exchange volume is originating from China and other Asian countries, that seems to be a smart business decision.
By the look of things, investors are continuing the trend that started in 2015. A lot of VC funding has flowed to Bitcoin companies last year, and it looks like corporates are flocking to cryptocurrency companies as well. This is all very positive news