BitKan, a China-based cryptocurrency information provider supplier, introduced nowadays that it has secured $10 million in Collection B investment, led by way of new investor Zhongyunhui Capital, with further enhance from any other new investor IDG Capital and current investor Bitmain. This follows a $2.four million Collection A investment in 2016 and a $300,000 angel spherical in 2015.
BitKan has been considered one of China’s best-known Bitcoin and cryptocurrency information websites and OTC buying and selling suppliers for the previous 4 years till September 2017, when the Chinese language executive issued a stringent caution concerning the ICO marketplace. At that time, maximum China-based firms associated with ICOs and buying and selling selected to halt their companies in China in choose of transferring their operations in a foreign country — BitKan was once any such firms. It terminated its OTC products and services however stored its information, information and pockets products and services. Lately, BitKan continues to be headquartered in Shenzhen, China, but additionally operates globally in Hong Kong and Singapore, the place they have got arrange workplaces with plans so as to add a Tokyo department.
When requested about how BitKan sees China’s increasingly more tightening law of the blockchain business, Leon Liu, the chairman of BitKan, mentioned:
Chinese language executive is actively exploring the most efficient strategy to control Fintech business and blockchain business isn’t any exception. I consider Chinese language executive will in any case have a valid and considerate regulation in this business as soon as they have got sufficient working out and intelligence of blockchain.
BitKan’s New Blockchain Venture
“The capital injection will finance the improvement, promotion and operation of Okay Website, a blockchain challenge incubated by way of BitKan, and different services of BitKan itself, reminiscent of its E-wallet and knowledge research,” Yu Fang, BitKan’s CEO, advised Bitcoin Mag.
“Okay Website might be a media dapp [decentralized application] which might be a brand new function embedded in BitKan’s app.” mentioned Fang. “Okay Website will host quite a lot of teams in accordance with folks’s pursuits and convey high quality content material together with micro-blogs, complete articles, movies and Q&A periods. To deal with a top content-quality same old, customers might be charged a small rate to enroll in the teams. Unfastened content material can simplest draw in web page perspectives, however striking up a paywall can give a boost to content material high quality significantly. Okay Website goals to construct a impartial, faithful crypto group the place helpful, dependable, in-depth information and discussions may also be shared.”
Opting for Custom Fairness Funding over ICOs
In contrast to many different blockchain tasks, Okay Website won’t release an ICO however will use BitKan’s personal person base because the springboard for its Okay Website, although the website online in truth has its personal token referred to as KAN. Liu defined:
“BitKan has lengthy been wary of ICOs whose goal is to lend a hand a undeniable challenge to lift price range and to construct the group within the first position. For BitKan, it already has a big cryptocurrency person base which may also be simply channeled to Okay Website. Due to this fact, for Okay Website, a conventional funding mode will meet the calls for of this blockchain challenge.”
Increasing Out of the country Trade
The startup launched into a world highway as early as 2015. The brand new capital injection will allow the corporate to hurry up its world enlargement by way of extending BitKan’s already large person base, in keeping with Yu.
Up to now, BitKan has greater than 1 million registered customers globally, 40 % of whom are from out of doors of China. Each the BitKan website online and app are to be had in English, Chinese language, Eastern and Russian.
This article in the beginning gave the impression on Bitcoin Mag.