(REjected 2)CoolBitx Pulls in a $16.75 In Series B Fundraising Sales

The international blockchain security company, CoolBitx Technology with headquarters in Taiwan, has successfully secured $16.75 million during its Series B round fundraising led by Japanese finance group SBI Holdings.

Report credited to Asia tech daily on Feb. 25, described the round two funding phase which also has participants from National Development Fund of Taiwan, Korean giant cryptocurrency exchange, Bitsonic and Japanese financial group Monex, coming together to value CoolBitx at around $91 million, according to Micheal Ou, who act as chief executive officer.

Representatives of CoolBitX in a statement said the new round of fundraising will assist the platform to achieve its strategy for the year 2020. Which comprises the expansion of its signature product line’s presence beyond the Asia Pacific region and further extends its market reach in Asia. It will also continue to devise new methods for its flagship product with a focus on top-of-the-line security, functionality, and usability.

CoolBitX CEO, Micheal Ou, is of the opinion that blockchain and cryptocurrency industry is at a critical juncture. He commended the rate of adoption and innovation in Asia which he credited to the introduction of regulations, further stating:

“Jurisdictions that have passed bills defining a clear set of rules for the industry have seen major players in traditional finance enter the space, providing a clear blueprint for regulators around the world.”

CoolBitx was Founded in 2014 with its base in Taiwan. It has been at the forefront of Taiwan’s crypto and financial technology revolution.

More than ten exchanges which includes  SBI VC Trade, Coincheck, Bitbank, DMM Bitcoin, BITpoint, BitSonic, MaiCoin, BitoPro, Ace, and some other Exchange across the Asia Pacific Region have signed a Memorandum of Understanding (MoU) with CoolBitX, joining a consortium to begin or consider to implement CoolBitX Sign Bridge launched last October which allows crypto exchanges to share and transmit required compliance data via an application program interface (API), it is of less surprising to see the recent Series B fundraising proving to be a hugely successful one.