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Caribbean Bitcoin Exchange Launches Following $1.5 Million Raise
Barbados-based startup Bitt is launching a digital currency exchange today, having secured $1.5 million in seed funding from Avatar Capital
Updated Dec 12, 2022, 12:50 p.m. Published Mar 30, 2015, 9:23 a.m.
Caribbean digital currency exchange Bitt has launched today, having secured $1.5m seed funding from local VC group Avatar Capital.
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The exchange, based in Barbados, is powered by AlphaPoint, an exchange technology platform provider that also offers its solutions to Bitfinex and Cointrader.
Also a remittance channel and merchant processing gateway, Bitt claims to have implemented "military grade security", with a multi-signature HD wallet system keeping 95% of customers' bitcoin offline.
Gabriel Abed, Bitthttps://www.bitt.com/home CEO, said:
"The Bitt exchange is a cornerstone project for digital finance in the Caribbean. By facilitating trade between traditional and digital currency markets, Bitt is creating the platform for very low-cost international commerce and remittance between the people who need it most - the millions of unbanked and underbanked citizens in the Caribbean."
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Consumers will be able to trade in 11 major fiat currencies, including the US dollar, the pound and the euro.
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