Credit China FinTech Signs US$30 Million Deal with Bitfury Group

Credit China FinTech Signs US$30 Million Deal with Bitfury Group
26.01.2017 12:00 pm

Credit China FinTech Signs US$30 Million Deal with Bitfury Group

Blockchain , Platform Technology

Leveraging Blockchain Technologies to Transform its FinTech PlatformsThe board of directors of Credit China Fintech Holdings Limited and its subsidiaries announced today that it has entered into a US$30 million deal with BitFury Group Limited.

The deal includes an investment in Bitfury shares and the establishment of a joint venture focusing on the China market. 

BitFury Group is the world’s leading Bitcoin and private Blockchain infrastructure provider and transaction processing company, which provides a full-service chain of hardware and software products. Blockchain is the latest and most exciting encryption technology for the secure transfer of digital assets among consumers, businesses, banks and financial institutions. The collaboration with Bitfury is in line with the Group's FinTech strategy and will assist the Group in maximising the adoption of the Bitcoin Blockchain and private Blockchains into its various FinTech platforms. 

Mr. Phang Yew Kiat, Vice-Chairman and CEO of Credit China Fintech, said, “Blockchain is a fast emerging technology allowing effective secured value transfer over the internet. Our collaboration with BitFury will further cement our leadership position in the use of Blockchain technologies across our FinTech platforms, taking Credit China Fintech to a new level of competitiveness.” 

Mr. Valery Vavilov, CEO and Founder of BitFury, said “We are deeply grateful to Credit China FinTech for both its forward-looking embrace of technology and its confidence in Bitfury. China is a visionary country and we are honored to have the opportunity to expand the work of our company to this significant part of the world.”

Related News

Lendonomy selects Neonomics to build Norway’s very first PSD2 crowdlending solution

Lendonomy, a Norwegian fintech startup that is developing a blockchain-based “Airbnb for lending” targeting GenZ, and Neonomics, a leading provider of open banking APIs... Read more »

DeeMoney Partners with Ripple to Power Faster and Cheaper Cross-Border Money Transfers

DeeMoney, a fintech company based in Thailand specializing in digital cross-border money transfers, today announced its platform is now... Read more »

Manx Telecom and Minima Complete Successful Blockchain Proof Of Concept To Show Future of Payment

 Minima, the world’s first truly decentralised Blockchain protocol that runs in full on mobile phones, announces the completion of a successful proof of concept with the Isle... Read more »

Smartlands Receives “Best Crowdfunding Platform 2020” Award from FinTech Breakthrough Awards

Smartlands is excited to announce that Smartlands has received the “Best Crowdfunding Platform” Award from the FinTech Breakthrough... Read more »

Standard Chartered joined digital shipping platform TradeLens

Standard Chartered Bank has joined TradeLens, a blockchain-enabled digital container logistics platform, jointly developed by A.P. Moller – Maersk (... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel