Overstock Invests in Bitt to Launch Official Digital Currencies in the Caribbean Islands
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.....
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Overstock revealed Friday it invested $4 million into a blockchain-forward financial technology firm in the Caribbean. The announcement, made in Barbados and attended by principals from the island’s company Bitt and Overstock, enters in a big move by Overstock into the space. It’s involvement had largely been focused on innovation through its t0 project. “A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked,” Overstock Chief Executive Patrick Byrne said. “Yet mobile penetration in some countries exceeds 100 percent. Bitt has....
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....
Caribbean digital currency exchange Bitt has received $4m in new funding from online retailer Overstock.com. The deal, announced today, comes after Bitt's February launch of a blockchain-backed digital version of the Barbados dollar. The startup raised $1.5m in seed funding last March from local VC firm Avatar Capital. Bitt CEO Gabriel Abed told CoinDesk that the deal originated at the Satoshi Roundtable, an invite-only industry gathering held in late February. The funds will be used to expand the company’s team beyond Barbados. Abed explained: "We’ll be taking what we’ve done in....
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:....
E-tail giant Overstock has invested in a Belgium-based blockchain startup. The seed investment in SettleMint, the amount of which was not disclosed, was made by Medici Ventures, a venture arm of Overstock that is focused on its blockchain-based trading platform initiative. In April, Overstock invested $4m in Caribbean digital currency exchange Bitt, and the firm has stakes in other companies like PeerNova and Identity Mind as part of its crypto-exchange project. According to the e-tailer, the investment in SettleMint is aimed, in part, at shoring up the voting capabilities for its tø....