Bitcoin exchange and wallet provider BitX has extended its Series A round to include undisclosed funding from Southeast Asia-focused VC firm Venturra Capital.
"With our lean structure and very low cost base, the funds we have raised equate to a lot more when compared to similar rounds raised by companies in the US and Singapore," CEO Marcus Swanepoel explained.
Swanepoel told CoinDesk BitX is seeing its biggest growth in Southeast Asia, and that the round was continued to add an "influential and well-respected local regional partner". Regardless, he stressed that BitX remains global in its focus as it seeks to expand.
"We see a lot more potential for bitcoin in emerging markets than developed markets," he said. "Markets like Southeast Asia are important markets for us but not exclusive."
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