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Digital assets trading platform BitMart announces investment of millions from Chinese blockchain-focused venture capital firm Fenbushi Capital.
Digital assets trading platform BitMart has reportedly secured āmillions in investmentsā from Chinese blockchain-focused venture capital firm Fenbushi Capital. BitMart announced the news on Aug. 7.
To bring transparency to the global economy
With the investment, BitMart has joined over 50 international blockchain projects Fenbushi has invested in, aiming to achieve more transparency and efficiency in the global economy. Sheldon Xia, founder and CEO of BitMart, said:
āThe strategic collaboration with Fenbushi Capital and Bitrise Capital will undoubtedly help to establish a more open and transparent capital raising ecosystem for both investors and high-quality assets.ā
Following the investment, BitMartās Global Strategic Advisory Committee will onboard new member Bo Shen,Ā founder and general partner of Fenbushi Capital. Shen follows a string of new board members like Kevin Shao, the general manager of blockchain branch of mining machines manufacturer Canaan Creative.
Facilitating BTC payments
As reported in February, peer-to-peer Bitcoin (BTC) marketplace Paxful announced a joint venture that saw Paxful integrated as a means of facilitating BTC payments on the BitMart platform.
At the time, Xia, emphasized that the partnership will significantly expand the number of ways by which the exchangeās users can purchase Bitcoin, stating:
āWith this partnership, investors will now have direct access to multiple payment approaches including bank transfers, gift cards, debit/credit cards, and cash deposits, lowering the barriers to entry for new adopters of digital currency investment.ā
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