BitX, a Singapore-based cryptocurrency platform, secured $4m in Series A funding.
The round was led by Naspers Group’s payment subsidiary PayU with participation from return backer Barry Silbert’s Digital Currency Group. In conjunction with the funding, James Caviness, chief product officer at PayU, joined BitX’ board of directors.
Led by co-founder and CEO Marcus Swanepoel, BitX is a global cryptocurrency platform, providing mobile wallets, institutional quality exchanges, and various API’s for merchant and other business integration. Customers around the world use the platform for money transfers, buying online, and trading and storing their Bitcoin.
The platform is available to over half a billion consumers across key markets in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore) and Africa (Nigeria, South Africa and Kenya).