Quoine, a Singapore-based Bitcoin exchange, has closed a $20 million funding round, leveraging off the large opportunity for Bitcoin in the Japanese market, led by venture capitalists (VCs) and other ‘strategic investors’.
It’s last funding round was a $2 million angel investment in December 2014.
The latest investment will see it shift its headquarters to Tokyo from Singapore. The Singapore office will remain as a subsidiary.
This is part of a series of investments closed by Japanese bitcoin exchanges this year. bitFlyer closed a $27 million investment in April 2016 and Zaif raised $6.5 million in May 2016.
This pattern in funding, with increasing involvement in bitcoin investment by corporates, is reflective of how all of 2015′s largest blockchain and bitcoin deals involved corporates and strategics, with 2016 maintaining this trend. This comes at a time when financial institutions and corporates are grappling with