Credit China FinTech Inks $30 Million Deal with Bitcoin Firm BitFury
Credit China Fintech Holdings Ltd., a Hong Kong-based industry investment firm has entered a $30 million agreement with bitcoin- and blockchain-industry giant BitFury. The deal will see an investment in Bitfury shares and a new joint-venture effort focusing on the Chinese market. An announcement [PDF] by BitFury reveals that Credit China Fintech will aid the industry firm to maximize “the adoption of the Bitcoin Blockchain and private Blockchains” into Credit China’s various FinTech investments and platforms. A report by CNBC points to further details about the joint venture to be a....
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A new two-part deal valued at $30m will see BitFury expand its footprint in China. The full-service blockchain technology company has announced a deal with Credit China Fintech, a firm that provides consumer-facing financial products, according to FT. The $30m deal has two components: an investment in BitFury directly and plans to establish a joint venture in China. In statements, Credit China Fintech said that it would seek to adopt the technology for its services, looking at applications of both the bitcoin blockchain and private ledgers. Phang Yew Kiat, Vice-Chairman and CEO of Credit....
Leading Blockchain infrastructure provider and Bitcoin mining firm BitFury secured a $30 mln investment from a Hong Kong-based fintech company Credit China Fintech to launch a joint Bitcoin venture in China. The investment will be allocated in the expansion of BitFury’s operations and in the funding of the joint project revolving around the commercialization of Blockchain technology and sale of BitFury’s Bitcoin mining equipment to local miners and companies. Phang Yew Kiat, Vice-Chairman and CEO of Credit China Fintech stated: “Blockchain is a fast emerging technology allowing effectively....
Bitfury group has partnered with Credit China Fintech. The company has received a $30 million investment as a part of the deal. The Chinese interests have expanded beyond Bitcoin in the recent days. The world’s largest cryptocurrency market is now focusing on research, development, and implementation of blockchain technology across various industry sectors within the country. Credit China Fintech has aligned itself to the country’s aspirations by making a $30 million investment in Bitfury Group – a cryptocurrency technology company. The recently forged partnership will now enable the Hong....
Ramping up its efforts to become a dominant Fintech hub in Asia, a 10 billion yuan (approx. $1.44 billion) fund was launched in Beijing, China, focusing mergers and acquisitions in the sector while seeking to nurture enterprises and startups in the industry. Titled ‘Asia Fintech Merger and Acquisition Fund of Funds’, the fund was founded by both state-owned capital and private funds to launch in the last week of December 2016. Established by Hong Kong-based industry investment holding firm Credit China Fintech Holdings Ltd and its subsidiaries the fund also sees benefactors in major....
A BitFury spokesperson has confirmed that this is the second investment by BitFury Capital. BitFury Capital, the investment arm of bitcoin mining infrastructure provider BitFury, has announced an undisclosed investment in BitGo. The news marks the venture capital firm's second investment in recent weeks, following confirmation that it had invested in an anonymous bitcoin wallet provider. Speaking to CoinDesk, BitGo CEO Will O'Brien elaborated on the significance of the deal, though he declined to offer any specifics. Praising BitFury as a leader in the bitcoin mining sector, O'Brien told....