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Bitcoin company Coinplug has raised $5 million in a series B funding round.
Bitcoin startup company Coinplug has raised $5 million in a series B funding round.
According to an article on CoinDesk:
The company drew support from firms including SBI Investment raising its cumulative funding to date to $8.3m.
Joon Hyuk Park, investment director at SBI, told CoinDesk blockchain technology’s potential to change legacy financial services, coupled with the team’s business background and their execution capabilities had influenced his firm’s decision to invest.
Ryan Uhr, Coinplug’s CEO, said the funding will be used to “ramp up development of its blockchain-based services”, adding: “in the future, Coinplug is planning on presenting a global remittance service. Also, we will focus on developing an efficient and competitive blockchain platform … and provide the platform for major banks in Korea.”
Click here to read the full article from CoinDesk.