Mobile Commerce Insider Featured Article

August 25, 2014

BitFury Capital Invests in Bitcoin Wallet

Mobile commerce has become more than simply banking or money-management apps — indeed, the rise of Bitcoin has turned digital currency into a field in its own right. New developments by major Bitcoin-dealing groups are further expanding upon the industry.

BitFury Capital is a seed fund and subsidiary of the Bitcoin infrastructure provider BitFury Group, and just announced its first investment in a Bitcoin wallet provider. BitFury Group is the largest provider of Bitcoin solutions and one of the largest miners of Bitcoin; BitFury Capital was founded in 2011, and now has offices in San Francisco and Amsterdam.

The new investment is a milestone for the subsidiary group, as it continues to try to drive the growth of the Bitcoin ecosystem through partnerships and business opportunities. The investment will support multiple players within the same segments of the ever-evolving crypto-currency industry; this support will be provided on a non-exclusive basis. In addition to this new endeavor, BitFury Capital’s focused approach to investing allows it to seek out partnerships with businesses that show potential for growth in specific sectors of the market, such as Bitcoin-driven projects and startups, peer-to-peer projects, or new innovations in renewable energy. The company also delivers knowledge and resources to accelerate startups and create strategic cooperation between businesses.

Marat Kicikov, managing director of BitFury Capital, said in a recent statement, “We are happy to mark our first investment into the Bitcoin ecosystem. The new strategic partnership will further enable global Bitcoin adoption. We are excited to be part of that story.”

The Bitcoin industry has certainly been developing its story in recent years—since its introduction in 2009, the digital currency has exploded onto the technological scene. The first Bitcoin ATM was installed in Canada last year, and more and more big-name companies are beginning to accept Bitcoin as a means of transaction.

With more and more developments in the realm of digital currency and mobile commerce, BitFury Capital seems well on its way to becoming a major player in the Bitcoin field.

Edited by Rory J. Thompson

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