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Bitcoin Shop Inc. To Invest in GoCoin Payment Platform
GoCoin Payment Platform
Virtual currency eCommerce marketplace Bitcoin Shop Inc. has announced its plans to invest in the GoCoin digital currency payment platform.
The $1.5 million equity fund was lead by Bitcoin Shop’s CEO Charles Allen, COO Michael Handerhan, former Facebook COO Owen Van Natta, Crypto Currency Partners and others. Allen stated on behalf of the company’s investments:
“Our investment in GoCoin’s leading international payment processing platform is complementary to our business model. The partnership diversifies our risk profile through access to a greater number of retailers who accept digital currencies with GoCoin. Together, we are enabling customers the ability to use the growing number of virtual currencies when shopping on our site by leveraging GoCoin’s enhanced payment platform. Once fully integrated, we will offer a best of breed, one-stop-shop user experience. We are excited to be leading this round of investment in GoCoin and their team.”
The GoCoin payment platform was designed to allow processing of multiple digital coins, such as bitcoin, litecoin and dogecoin. The company’s Series A financing round raised $500,000.
Bitcoin Shop will utilize GoCoin specifically for its payment processing option. This offers shoppers the choice to pay either in bitcoin or litecoin. Owen Van Natta included:
“User demand continues to grow for alternative payments. I’m excited to deepen my involvement with GoCoin and their best-in-class payments solution for merchants and game publishers.”
GoCoin’s founder and CEO, Steve Beauregard, mentioned how his company has focused on different types of currencies since day one. He believes that Bitcoin Shop’s support will help to extend the GoCoin name. This will eventually lead to GoCoin’s growth.
Circle Internet Financial Investment
Similar to the Series A Funding of GoCoin, Circle Investment Financial recently announced their Series B finance numbers. During the investment period, Circle managed to raise $17 million.
To date, Circle has been able to raise a total of $26 million, with $9 million coming from their Series A fund. Some investors include Breyer Capital, Accel Partners, General Catalyst Partners,Oak Investment Partners, Pantera Capital, and bitcoin exchange SecondMarket.
The joint support of several separate financial institutions is a great way to assist an up and coming company, who will in turn do wonders for the bitcoin community.
For more bitcoin news, stay tuned to CoinReport.
