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Blockchain security company CoolBitX raises $16.75 million

CoolBitXTaipei-based CoolBitX,  a blockchain security company, has received $16.75 million in its Series B funding round led by Japan’s financial group SBI Holdings, with participation from the National Development Fund of Taiwan, Korean crypto exchange BitSonic, and Japanese financial group Monex. The FinTech company is expanding the Sygna product line’s presence beyond the Asia Pacific (APAC) region as a Financial Action Task Force (FATF) compliant solution for virtual asset service providers (VASPs), globally.

Michael Ou, CEO, CoolBitX expounded, “…In the global blockchain race, the rate of adoption and innovation in Asia is undeniable, witnessed by regulatory developments and investments in the past year. Jurisdictions that have passed bills defining a clear set of rules for the industry — especially those surrounding KYC and AML — have seen major players in traditional finance enter the space, providing a clear blueprint for regulators around the world. Through Sygna and CoolWallet S, we’re proud to develop the tools and infrastructure necessary to bridge the gap between the mainstream market and crypto industry….”

Regarding the bluetooth enabled hardware wallet CoolWallet S, the company is said to innovate its product with a focus on security, functionality, and usability.

Yoshitaka Kitao, President & CEO, SBI Holdings encapsulated, “As one of the early investors in CoolBitX, SBI Holdings is happy to see the breakthroughs made by the CooBitX team to drive cryptocurrency adoption forward. As such, we are delighted to participate in our second tranche of investment in CoolBitX. The borderless nature of digital assets requires a solution that isn’t bound by geographical boundaries and we are proud to partner with CoolBitX on their journey to bring a secure and easy-to-implement system to the world.”

Presently, a consortium named as the Sygna Alliance, includes SBI VC Trade (JP), Coincheck (JP), Bitbank (JP), DMM Bitcoin (JP), BITpoint (JP), BitSonic (KR), MaiCoin (TW), BitoPro (TW), Ace (TW), and other exchanges throughout the APAC region, some of whom have begun implementing or testing Sygna Bridge within their own infrastructures.

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