Quoine, a Singapore and Japan-based bitcoin trading platform, raised US$20m in Series A funding.
The round was led by Japaned venture capital firm Jafco Ventures.
The Japanese government recently passed a bill that officially recognizes and regulates digital currency exchanges. This new law provides clear regulatory guidelines and a framework toward full legitimacy of digital currencie and the company intends to use the funds to advance the platform in order to be among the first regulated exchanges in Japan when the new rules come into effect in 2017.
Founded in 2014 by CEO Mike Kayamori and CTO Mario Gomez Lozada, Quoine operates a Bitcoin trading platform offering a range of charting tools, as well as margin trading, algo and futures as well as payment processor facilities for businesses looking to accept bitcoin, as well as internal lending facilities to customrs who have deposited their bitcoin.
The company recently appointed Ken Mazzio as Head of Compliance and Information Security to assist the company in navigating the regulatory landscape in Japan.