Chinese fintech service provider, Credit China Fintech Holdings, has entered into a $30 million deal with a blockchain and bitcoin infrastructure provider. What is their plan?
Credit China Fintech has invested in Bitfury Group (Bitfury), a leading full-service blockchain technology company and one of the largest private infrastructure providers in the blockchain ecosystem.
Bitfury develops and delivers both the software and the hardware solutions necessary for businesses, governments, organisations and individuals to securely move an asset across the blockchain.
Moving to a New Level
«China is a visionary country and we are honoured to have the opportunity to expand the work of our company to this significant part of the world,» said Valery Vavilov, CEO and Founder of BitFury.
Phang Yew Kiat, Vice-Chairman and CEO of Credit China Fintech, said «Blockchain is a fast emerging technology allowing effective secured value transfer over the internet. Our collaboration with BitFury will further cement our leadership position in the use of blockchain technologies across our fintech platforms, taking Credit China Fintech to a new level of competitiveness.»
The $30 million deal includes an investment in Bitfury shares and the establishment of a joint venture focusing on the China market.
