Australian firm DigitalBTC is bowing out of bitcoin mining to focus on its consumer products, its CEO has said.
The company's new products include private liquidity platform digitalX Direct and AirPocket, a peer-to-peer remittance app. The latter starts its public beta in the US and the Dominican Republic today.
Long on bitcoin
"As much as we believe that bitcoin as a financial instrument can be a valuable tool, we basically have the opinion that it is going to take longer than we thought," Tsvetnenko said.
Despite bitcoin's value, DigitalBTC – which is listed under Digital CC Limited – still holds a great amount of the digital currency.
Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay.
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