TechInAsia: Bitcoin is in an interesting phase. With the flight of speculators following the crash of Bitcoin prices, startups in the space are making a slow climb up the “slope of enlightenment” in the hype cycle. It’s where the rubber meets the road.
The sudden interest of banks in cryptocurrency however does present hope. And perhaps so does this piece of news: South African media conglomerate Naspers, through its payment processor subsidiary PayU, has led a $4M series A round in BitX, a Singapore-based Bitcoin startup operating a wallet, several exchanges, and merchant integration services.
Digital Currency Group, an investment firm focusing on Bitcoin enterprises, joined the round too. It’s founded by Barry Silbert, a known name in the cryptocurrency world. The firm has backed prominent Bitcoin startups like Bitpay, Coinbase, and Circle.