Blog Archives

Singapore’s BitX secures $800k in venture capital funding for emerging market expansion plans

Posted on 19th August, 2014

Venture capitalists and angel investors are betting big on bitcoin’s appeal in emerging-market economies, a trend only reinforced by BitX’s latest fundraising announcement. The Singapore-based bitcoin services provider revealed today that it has raised $824,000 in a seed-funding round. Investors include London-based Ariadne Capital and Palo Alto-based investor Carol Realini, as well seemingly ubiquitous bitcoin-backer […]

Kenya’s BitPesa enters beta testing for bitcoin-based remittance service

Posted on 24th May, 2014

It’s hardly a secret that Africa’s remittance fees are some of the highest in the world. In April, a report by the Overseas Development Institute (ODI) revealed that large money-transfer companies like Western Union were charging huge rates in some of Africa’s poorest nations, with average fees of around 12% for sending $200. The ODI […]

Upscale Johannesburg barbershop to house Africa’s first bitcoin ATM

Posted on 21st May, 2014

As bitcoin ATMs begin to pop up in major cities across the globe, one entire continent is still untouched: Africa. If ZABitcoinATM’s plans pan out, however, this should be changing later this month. The company’s Lamassu-made ATM is scheduled to arrive in Johannesburg, South Africa, by the end of the week, and will be set […]

Report: Bitcoin adoption growing in Africa

Posted on 25th April, 2014

According to a USA Today report, Africa might become the next hotbed of bitcoin activity. With a hugely unfavorable remittance market on the continent, and fees that commonly rise as high as 12%, Africa is primed for massive changes in how international money transfers are handled. It’d be a huge loss for Western Union if […]