CoolBitX secures $16.75m in series B funding to build out crypto infrastructure

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James is editor in chief of TechForge Media, with a passion for how technologies influence business and several Mobile World Congress events under his belt. James has interviewed a variety of leading figures in his career, from former Mafia boss Michael Franzese, to Steve Wozniak, and Jean Michel Jarre. James can be found tweeting at @James_T_Bourne.

Taiwanese blockchain security firm CoolBitX has secured $16.75m in its series B funding round conducted by Japan’s SBI Holdings, along with participation from the National Development Fund of Taiwan, Korean crypto exchange BitSonic, and another Japanese financial group Monex.

As CoolBitX has successfully raised funds, the company now intends to expand the presence of its Sygna product range beyond the Asia Pacific region. Sygna is CoolBitX’s first-to-market FATF-compliant solution for virtual asset service providers (VASPs) around the world. The company will continue to innovate and develop its flagship product CoolWallet S, which is a Bluetooth-enabled hardware wallet for cryptocurrencies.

“The borderless nature of digital assets requires a solution that isn’t bound by geographical boundaries, and we are proud to partner with CoolBitX on their journey to bring a secure and easy-to-implement system to the world,” said Yoshitaka Kitao, president and CEO of SBI Holdings.

Earlier this month, California-based Paystand raised $20m in series B funding that will help the cloud-based PaaS payment network to expand its products and services. The secured funds will also help the firm to expand sales, marketing, success, and engineering teams at its California and Mexico offices. The platform simplifies complex commercial transactions and payments for enterprises, with the company claiming it wants to do for enterprise transactions what Venmo has done for consumer-to-consumer deals.

Singapore-based Clear Blockchain Technologies also raised $13m in its series A round to further its mission to ‘transform B2B enterprise clearing and settlement’ through blockchain. The company has developed a blockchain-based platform that helps enterprises automate contracts and data management, whereas guaranteeing control, security, and privacy in networks with multiple partners. This shared ecosystem allows automatic payments and clearing, reducing transaction fees, long payment cycles and managing fraud prevention.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

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