Blockchain Startup Bitfury Backed for $30m from Credit China Fintech to Expand to China

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Credit China Fintech Holdings announced today that it has entered into a US$30 million deal with BitFury Group Limited. The deal includes an investment in Bitfury shares and the establishment of a joint venture focusing on the China market.

BitFury Group is the world’s leading Bitcoin and private Blockchain infrastructure provider and transaction processing company, which provides a full-service chain of hardware and software products. Blockchain is the latest and most exciting encryption technology for the secure transfer of digital assets among consumers, businesses, banks and financial institutions. The collaboration with Bitfury is in line with the Group’s FinTech strategy and will assist the Group in maximising the adoption of the Bitcoin Blockchain and private Blockchains into its various FinTech platforms.

Mr. Phang Yew Kiat, Vice-Chairman and CEO of Credit China Fintech, said:

“Blockchain is a fast emerging technology allowing effective secured value transfer over the internet. Our collaboration with BitFury will further cement our leadership position in the use of Blockchain technologies across our FinTech platforms, taking Credit China Fintech to a new level of competitiveness.”

Mr. Valery Vavilov, CEO and Founder of BitFury:

said “We are deeply grateful to Credit China FinTech for both its forward-looking embrace of technology and its confidence in Bitfury. China is a visionary country and we are honored to have the opportunity to expand the work of our company to this significant part of the world.”

Bitfury Group is the leading full-service Blockchain technology company and one of the largest private infrastructure providers in the Blockchain ecosystem. Bitfury Group develops and delivers both the  software and the hardware solutions necessary for businesses, governments, organisations and individuals to securely move an asset across the Blockchain.

 

Credit China FinTech is a leading integrated FinTech service provider in China with a focus on providing 24 x 7 financial services to SMEs and consumers in China through internet and mobile internet. The suite of FinTech services offered by the Group includes online third party payment, technology-enabled lending, online financial asset investment and supply chain financial services platforms.

 

 

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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