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ViaBTC Closes CNY20 Million Series A Funding from Bitmain

ViaBTC Closes CNY20 Million Series A Funding from Bitmain

It has been revealed that Chinese mining pool ViaBTC has put an end to series A funding of 20 million CNY from Bitmain and other investors.

Bitmain is one of the primary manufacturers of bitcoin mining hardware.

ViaBTC elaborated on the way it would be using the funds raised. To this end, the company is planning to launch a global cryptocurrency exchange later this year, preceded by a CNY/BTC exchange for the local market within two months.

ViaBTC currently stands at over 2000 mined blocks. It also offers impressive services such as provision of Bitcoin Unlimited and a free transaction accelerator. ViaBTC was also the first Chinese pool to pay out transaction fees.

Last December, ViaBTC introduced its US stratum server which is directly linked to computers instead of the network. This initiative will allow the company to service users with a more stable connection and a lower rejection rate.