Google Ventures invests in Bitcoin competitor OpenCoin
Google Ventures and China-based IDG Capital Partners are the second group of tech investors in two months to place a bet on OpenCoin, the company behind the currently-in-beta Ripple open-source payments protocol. OpenCoin announced today that it had closed an additional round of funding -- the amount wasn't specified -- with Google Ventures and IDG Capital Partners. (Hat tip to GigaOM for the news.) Last month, OpenCoin wrapped up an earlier angel round of funding from another high-profile group of technology VCs: Andreessen Horowitz, FF Angel IV, Lightspeed Venture Partners, Vast Ventures....
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At first glance, especially to a digital currency neophyte, OpenCoin might not look that different from Bitcoin. Look beyond the superficial similarities, though, and the two ventures in virtual money couldn't be less alike. That's especially true in terms of the people - and money - behind the currencies. Bitcoin, after all, was birthed in a way by a cipher ... a man (or entity) who isn't there. (Theories abound as to who or what Satoshi Nakamoto is or was.) Nor did Bitcoin enjoy the advantages of big names and big money as it grew: its popularity grew through its appeal to a certain....
LedgerX is a new financial industry startup based out of New York, the home of the upcoming BitLicense. Despite the overcast pall of incoming regulations, LedgerX seems prepared for any happenstance. The new group has raised venture funding from Lightspeed Ventures and Google Ventures. Lightspeed Ventures has previously invested in other digital currency startups including Blockchain.info. Google Ventures, on the other hand, has put money into Buttercoin and OpenCoin, the company behind Ripple, which some might argue until they're blue in the face is the #2 cryptocurrency in existence.....
At Bitcoin London yesterday, OpenCoin announced that Ripple users can now make bitcoin payments directly from the Ripple client. The so-called Bitcoin Bridge fulfils some of Ripple's promised functionality and connects its users to the whole bitcoin economy and ecosystem. This Bitcoin Bridge enables Ripple users to make payments in bitcoin without ever needing to hold any of the digital currency. Ripple's explanation video has shown that payments can egress the Ripple network in fiat currencies, plus bitcoin, via Ripple Gateways. That functionality is now there thanks to this new feature.....
Buttercoin officially launched today, bringing what it calls a "reliable, domestic bitcoin marketplace" to the US, one it believes provides the first advanced foundational service to the ecosystem's largest, and perhaps most complex market. Boasting Centralway Ventures, Google Ventures, Reddit co-founder Alexis Ohanian, Rothenberg Ventures and Y Combinator among its investors, Buttercoin claims to allow US bitcoin businesses to sell bitcoins and receive payout in just one business day. At launch, Buttercoin also lists impressive names from the US bitcoin ecosystem as clients, including....
Medici Ventures has completed a third equity purchase in Barbados-based Bitt, bringing it a controlling interest in the blockchain firm.