Singapore Bitcoin ATM Producer Tembusu Gets $300k Seed Funding
Singapore bitcoin ATM producer Tembusu announced today it has closed its seed funding round and raised over S$300,000 (US$236,600), just one and a half weeks after launching its first machine and after the company itself was valued at S$5.1m (US$4.02m). Company spokesman Jarrod Luo said the extra capital would form the bulk of the working capital the startup requires to "fulfill its outstanding machine orders in a timely fashion", including stockpiling raw materials and expanding its team. Tembusu was the first company to open a bitcoin ATM in Singapore, and it is also the first to design....
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Having just launched a bitcoin ATM in Singapore, Tembusu has reportedly received nearly $237,000 USD in seed funding, according to a report published by bitcoin news website CoinDesk. The money has come from undisclosed investors in the city-state for a near 6 percent equity stake in the company. This puts the company valuation at just over $4 million USD at the present time. Company spokesman Jared Luo said they funding will be used to fill outstanding orders, stockpiling raw materials to build the machines, and adding additional staff members. The Tembusu bitcoin ATM made its debut last....
There is a new player in the world of bitcoin ATMs, Singapore-based Tembusu Terminals. The company has just installed Singapore's first permanent bitcoin ATM at a bar in the Boat Quay district. Tembusu says it is talking to other merchants who would like to install the company's ATMs, too. Earlier this month, Bitcoiniac announced it would install Robocoin ATMs in London and Singapore by mid-March. It appears that Tembusu has beaten the Vancouver-based outfit to the punch. Flexible design. The Tembusu ATM was designed and built in Singapore. It features several security and anti-theft....
Tembusu Systems - known in the digital currency space for developing Bitcoin ATMs - has recently announced what looks to be a switch of focus for the company. In a press release reported yesterday evening (GMT), Tembusu announced it is raised 1.2 million Singapore dollars (US$887,000) in a closed financing round. According to the press release, the company plans to use the capital to develop what it refers to as the TRUST framework. Apparently, Tembusu's framework is a "next-generation distributed block chain technology". What this terminology actually refers to remains something of....
Tembusu Systems Pte Ltd., a digital currency platform provider based in Singapore that counted Greece's Finance Minister Yanis Varoufakis among its advisers, announced that it will soon begin implementing digital currency payments using its TRUST framework. According to the Tembusu website, Tembusu's TRUST framework is a global infrastructure that lets verified individuals transfer and manage assets instantly, securely, simply and inexpensively. Based on blockchain technology, it enables payment using different currencies - real-world, digital or even gold and silver. The system was....
There has been an absolute explosion in the number of companies entering the ATM part of the space. With all this entrepreneurial activity we've even seen innovation around the very idea of what an ATM should be. In these last few days alone Diamond Circle has sought to distinguish itself from the pack: announcing its 'cashless ATM' concept. The unit will allow users to buy bitcoin with a credit card, and sell bitcoin with their bank account. Singapore based producer Tembusu announced its seed funding round of close to USD 300,000 on the back of its machine debut. Interest in the space is....