BitFury Capital, the venture capital arm of the hardware company has announced a huge investment in Gocoin. This is a smart move as GoCoin have the infrastructure to that allows merchants to accept altcoins e.g. litecoin and dogecoin as well as bitcoin.
This is the third investment for BitFury who have agreed in the deal that it will seek to use GoCoin as the default processor for its global vendors, which will appeal to heavyweight merchants such as CheapAir, Hustler and BTC Trip.
Marat Kichikov, managing partner of BitFury Capital stressed that this investment outlines BitFurys commitment to building the bitcoin ecosystem, through this investment in payment processing. This is the first time BitFury Capital have made an investment of this kind since it started extending capital to the ecosystem in August 2014.
Prior to this investment, BitFury Capital invested in an undisclosed wallet provider and bitcoin enterprise security firm BitGo. BitFury spokesmen identified that both these initial investments were made in bitcoin:
“As the leading bitcoin infrastructure provider and bitcoin transaction processing company, BitFury uses every opportunity to further enable global bitcoin adoption by making as many financial transactions in bitcoin as possible.”
CEO of GoCoin Steve Beauregard Beauregard added that this investment will bring new business-to-business (B2B) clients to the company’s existing customer base.
He also told CoinDesk:
“The goal is to bring all of [BitFury’s vendors] into the ecosystem and have them accepting payments in bitcoin via our platform. So, everything from the providers of electricity to rack space to hosting services, you name it.”
This investment is yet more great news for GoCoin, as in September 2014 it partnered with PayPal’s Payments Hub, giving them huge validation by putting them alongside their major US competitors Coinbase and BitPay.
CEO Beauregard believes that his company’s unique selling point is that it has been built from the grassroots upwards which enables additional digital currencies as the market evolves. He describes this by saying:
“We also continue to look beyond just bitcoin to altcoins,” he said. “I think that [BitFury and GoCoin] share a vision, that we’re all sort of watching out for the next major developments in the digital currency space.”