BitFury Makes Investment in African Bitcoin Exchange BitPesa

Bitcoin mining hardware manufacturer BitFury, announced on Monday that it has made an investment in BitPesa, a Nairobi-based digital currency payment platform. BitFury completed the transaction through its investment arm, BitFury Capital.

BitPesa recently expanded its reach into several African countries, where it provides a variety of financial services to the underbanked; bitcoin exchange via mobile money wallets; remittance and exchange between several local African currencies; sale of bitcoin in Nigeria, Kenya, Uganda and Tanzania.

The African company has already made a significant impact on the continent and BitFury CEO Valery Vavilov, hopes that this investment will allow BitPesa to solidify its foothold in the rapidly growing digital currency economy across Africa, “A secure, transparent and trusted form of exchange is being made possible by BitPesa, and our investment will allow us to work together to leverage the innovative power of the Bitcoin Blockchain for the benefit of the entire pan-African continent.” said Vavilov.

A sizeable portion of Africa’s population doesn’t have access to adequate financial services, and Vavilov sees blockchain technology as the solution to that problem:

“Our mission is to make global transacting easier, especially for those who continue to face obstacles to financial growth”

In the press release, Elizabeth Rossiello, CEO of BitPesa, welcomed BitFury’s vote of confidence in her company, “It has been great to have the support of the BitFury Group, who work extremely hard to build community amongst companies working with bitcoin, large and small,” she said.


If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.