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March 1, 2016updated 04 Apr 2017 3:59pm

BitFury invests in African bitcoin exchange BitPesa

BitFury Group, a bitcoin blockchain infrastructure provider and transaction processing startup, has invested an undisclosed sum in Pan-African bitcoin payments and trading firm BitPesa.

By Verdict Staff

BitFury Group, a bitcoin blockchain infrastructure provider and transaction processing startup, has invested an undisclosed sum in Pan-African bitcoin payments and trading firm BitPesa.

BitFury said that the strategic investment was made by its investment arm, BitFury Capital.

BitPesa allows users across the world to send payments to and from Kenya, Nigeria, Uganda, and Tanzania.

Licensed by the FCA as an authorized payment institution, BitPesa accepts Bitcoin and exchanges it for local African currencies, which are then deposited into an African bank account or into mobile money wallets.

BitFury CEO Valery Vavilov said: "A secure, transparent and trusted form of exchange is being made possible by BitPesa, and our investment will allow us to work together to leverage the innovative power of the Bitcoin Blockchain for the benefit of the entire pan-African continent."

BitPesa CEO Elizabeth Rossiello said: "It has been great to have the support of the BitFury Group, who work extremely hard to build community amongst companies working with bitcoin, large and small."

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