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Bitcoin companies move ahead in Africa
Efforts to get Bitcoin off the ground in Africa received a boost this week as BitX announced it has raised $4 million in funding.Africa is a market ripe for Bitcoin: it’s underserved by financial institutions due to the high cost of having a physical presence like ATMs, bank branches and remittance offices, according Werner van Rooyen, head of business development and growth at BitX.The company was founded in 2013 and runs a bitcoin exchange and provides wallets for the cryptocurrency. Its headquarters are in Singapore and it has offices South Africa, Indonesia, Kenya, Malaysia and Nigeria. The Series A funding round was led by South Africa’s Naspers Group.To read this article in full or to leave a comment, please click here


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