Bitsy, a Salt Lake City, Utah-based company building a blockchain-based bridge between FIAT and crypto currencies, received an investment from Medici Ventures, a global leader in advancing blockchain technology.
The amount of the deal was not disclosed.
In addition to the financial investment, Medici Ventures President Jonathan Johnson was named to Bitsy’s board of directors.
Medici Ventures is a wholly-owned subsidiary of Overstock.com founded in 2014 with the mission to accelerate blockchain technology. Medici Ventures strategically invests in companies that apply blockchain technology to industries including capital markets, banking and money, identity, land titling and property rights, and voting.