Medici Ventures Increases Stake in Bitt

Medici Ventures has announced the exercise of an option to purchase additional ownership interest in Bitt.com, the Caribbean blockchain-based digital payment provider. Medici Ventures will increase its ownership stake in Bitt’s total Class A and B common shares by 8.6% in exchange for US$3m in additional funding.

Bitt is a Barbados-based financial technology company founded in 2015 that uses blockchain and distributed ledger technology to build a peer-to-peer payment ecosystem in the surrounding region. Medici Ventures first invested US$4m in Bitt in early 2016, shortly after Bitt’s launch of a digitised Barbadian Dollar on the bitcoin blockchain.

 

 

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