BitFury Capital has announced an undisclosed strategic investment in digital currency merchant processor GoCoin.
In an interview, GoCoin CEO Steve Beauregard framed the investment as one that would also add new business-to-business (B2B) clients to his company's existing customer base.
Beauregard told CoinDesk:
BitFury Capital managing partner Marat Kichikov stated that the investment also demonstrates that BitFury is committed to building the bitcoin ecosystem – an important part of which, it believes, is payment processing.
Boosting bitcoin's infrastructure
Representatives from BitFury indicated at the time that both these initial investments were made in bitcoin.
“As the leading bitcoin infrastructure provider and bitcoin transaction processing company, BitFury uses every opportunity to further enable global bitcoin adoption by making as many financial transactions in bitcoin as possible," the company said.
At press time, it is not clear if this latest investment was also carried out with bitcoin.
GoCoin gains momentum
The investment is the latest validation of GoCoin as a market leader in the industry's increasingly competitive merchant processing space.
This September, GoCoin was notably added as a processing partner in PayPal's Payments Hub alongside its arguably more visible competitors in the US market, BitPay and Coinbase.
However, Beauregard was quick to stress how his system is built from the ground up to enable the addition of more digital currencies as the market requires.
"We also continue to look beyond just bitcoin to altcoins," he said. "I think that [BitFury and GoCoin] share a vision, that we're all sort of watching out for the next major developments in the digital currency space."
Images via GoCoin and Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.