Overstock.com’s Medici Ventures ups stake in Caribbean blockchain startup Bitt

Overstock.com Inc.’s investment arm Medici Ventures has upped its stake in Caribbean-based blockchain startup Bitt Inc., investing $3 million more into the company in return for an additional 8.6 percent share.

Founded in 2015, Bitt offers a digital asset exchange whose initial focus was on providing access to cryptocurrencies in emerging markets with a high-frequency trading platform. It has since shifted to building a platform that uses blockchain and distributed ledger technology to build a secure, streamlined, peer-to-peer payment ecosystem for the Caribbean region. 

Overstock.com first took a stake in the company back in 2016 with a $4 million investment. At the time, it launched a blockchain-based digital version of the Barbadian dollar backed by the Central Bank of…

Read More

***News stories appearing in this Feed are 3rd party content and are included strictly for non-commercial informational purposes.