Bitfxt, a Nigerian cryptocurrency startup, has raised $15M Series A funding from a UK syndicate of Hedge Funds and UK company, Payitup Clearinghouse Ltd (UK).
In a press release to African media platforms, Franklin Peters – CEO, Bitfxt expressed excitement and the possible benefit his startup could bring to the African ecosystem.
Then follow us on Google News!
We are super excited about this development, and we sincerely appreciate our existing customers for believing in us as we widen our doors to even more customers while still maintaining very high standards… We pledge to do even more than we have ever done. Over the next couple of months, we will be working on infrastructural expansion and launching of some jaw-dropping products that will benefit Nigerians and Africans at large.
Franklin Peters, CEO BITFXT
Further, Bitfxt has agreed with the company to extend a $125M Revolving Margin Facility for all its traders. This arrangement will enable traders on the Bitfxt exchange to leverage their position for a higher gain.
Bitfxt currently runs a hybrid exchange, cryptocurrency-powered ATM cards, and a global payment platform called Boundless Pay.
With the latest funding, Bitfxt intends to expand into new markets and improve existing products. According to the latest PR, users of Boundless Pay will have options of settling in the US dollar or Nigerian Naira through our portal and also earn in the US dollar locally moving forward.
Also, Payitup Clearinghouse Ltd (UK), will act as a clearinghouse across all the markets in Africa and Europe through its affiliates and networks for immediate settlements.
The post Nigerian Cryptocurrency Startup Bitfxt Technology Raises $15M appeared first on BlockNewsAfrica.
TheBitcoinNews.com – Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT
Send Tip now!