Caribbean Startup Bitt Receives $4 Million
Overstock.com has announced it has invested $4 million USD into Caribbean exchange Bitt. The partnership was revealed in Barbados with various officials from surrounding nations. Bitt aims to bolster the current economic landscape and hopes to “remedy” the financial friction within the region. Bitt aims to digitize fiat currency within the Caribbean so....
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Blockchain technology can make a major impact on the world although the ramifications can vary greatly from country to country. Barbados is not a country most people would assume with the financial sector, but there is a growing FinTech scene in the region. Bitt is one of those companies who aim to become the settlement service of the Caribbean, and they are employing blockchain technology to achieve that goal. The name Bitt may ring a bell for people who are experienced in the world of Bitcoin and blockchain, as the FinTech startup has been chosen to revamp the financial industry in the....
Overstock announced a strategic investment in Bitt, a Caribbean-based fintech company whose goal is to persuade Caribbean island nations to adopt digital national currencies. The investment was announced at a media conference in Barbados hosted by Avatar Capital, which invested in Bitt, and attended by representatives from both Bitt and Overstock. Politicians and dignitaries from various Caribbean nations attended. “A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked,” said Overstock CEO Patrick M. Byrne. “Yet mobile....
Caribbean digital currency exchange Bitt has launched today, having secured $1.5m seed funding from local VC group Avatar Capital. The exchange, based in Barbados, is powered by AlphaPoint, an exchange technology platform provider that also offers its solutions to Bitfinex and Cointrader. Also a remittance channel and merchant processing gateway, Bitt claims to have implemented
Bitt, the Caribbean's first bitcoin exchange company, is looking to tap the region’s potential for remittances and banking services by providing faster and cheaper payments using bitcoin. CoinTelegraph spoke to the CEO and co-founder of Bitt, Gabriel Abed, about Bitt’s plans, as well as the challenges and specificities associated with the Caribbean market. After a two-year development period, the company launched its BTC solution suite on March 30. It includes a mobile digital wallet, international remittances services and e-commerce merchant solutions. Bitt, which currently runs under....
The company, which last week had announced a partnership with Bitcoin exchange BitStamp, revealed how it is planning to expand its services among the next-generation markets such as Bitcoin. Canadian online payment processor NetCents has indicated its entry into the Caribbean by partnering with Bitt Inc., a local digital currency exchange. The company, which last week had announced a partnership with Bitcoin exchange BitStamp, revealed how it is planning to expand its services among the next-generation markets such as Bitcoin. It had earlier raised investments from OverStock (NASDAQ:....