With some expecting the Bitcoin economy be valued at nearly $3 trillion in late 2016, the virtual currency’s appeal is growing with Canadian investors.
Bex.io, a digital currency exchange network builder that focuses on Bitcoins, has raised $500,000 in seed funding from CrossPacific Capital Partners, Brian Cartmell, Hootsuite’s Ryan Holmes and several angel investors.
The startup’s slogan is “own your own Bitcoin exchange,” and is currently accepted invite requests. Bex.io removes all the technical complexity of running a Bitcoin exchange for entrepreneurs.
“CrossPacific Capital is impressed by the Bex.io team and its vision for the future of digital currencies,” said CrossPacific Capital’s Marc dan der Chijs. “Bex.io will help the Bitcoin ecosystem grow and will enable many people to run their own exchanges, something which is needed in order to achieve mass adoption of Bitcoin and other virtual currencies.”
The Vancouver-based startup enables Bitcoin entrepreneurs across the globe to spread its adoption across different markets by providing compliant dealer, exchange and merchant solutions on a white label basis. It’s goal is to kickstart the mass proliferation of Bitcoin, and it wants to partner with successful internet and finance entrepreneurs to get there.
Bex.io will use the money to add a few more employees while assisting “the initial rollout of the first cohort of Bex.io trusted partners”.
The investor said he believes Bex.io can strike a chord in Asian markets too.
In a release the company said it will “roll out multiple deployments” over the course of 2014 and will start offering several liquidity provisioning options.
In helping individuals and organizations implement Bitcoin exchanges, the company focus on providing security measures, speed and performance, a visually appealing experience and even custom solutions if customers prefer.