Bitcoin Startup Coins Raises Over $5 Million in New Funding Round

A bitcoin startup known simply as ‘Coins’ has set a new financial record by raising over $5 million in a Series A funding round. Executives claim the money will be used to bring basic monetary services to unbanked populations in Southeast Asia.
Funding efforts were led by the Accion Frontier Inclusion Fund, while other organizations involved include the Digital Currency Group, Globe Telecom, and Smart Communications, two of the largest global telecommunication companies in the Philippines. Leading Accion partner Ganesh Rengasway explained:
‘Coins is collaborating with key ecosystem players to architect a financial and payment infrastructure in Southeast Asia… [The] use of blockchain allows Coins to enable digital access, cut costs, and improve the quality of financial services for the unbanked and underserved.’

This post was published at NewsBTC on Nick Marinoff October 24th, 2016.