Bitnet Lands $14.5 Million Series A Funding to Rival Coinbase, BitPay

Bitnet Lands $14.5 Million Series A Funding to Rival Coinbase, BitPay

A group of traditional payments veterans has raised $14.5m to launch Bitnet, a bitcoin payments processor that aims to entice the largest merchants in the world to accept bitcoin. Led by Highland Capital Partners, Bitnet's Series A round also included Rakuten, Japan's largest e-commerce site. Notably, Rakuten is not only providing funding, it will use Bitnet's bitcoin payments software. John McDonnell, CEO of Bitnet, told CoinDesk the company has an enterprise-level platform for large retailers to begin accepting bitcoin and that it expects its offering to compete against established....


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