Quoine raises $20 million in funding round

Investing | June 22, 2016 By:

Quoine announced it has raised $20 million in its Series A funding round. The round was led by Japan’s largest venture capital firm, JAFCO.

The latest investment will see it shift its headquarters to Tokyo from Singapore. The Singapore office will remain as a subsidiary.

“Our fundraising has come at a crucial time for the digital currency industry in Japan, as the Japanese government recently passed a bill that officially recognizes and regulates digital currency exchanges. This new law provides clear regulatory guidelines and a framework toward full legitimacy of digital currencies. We will use the funds to ensure that Quoine will be among the first regulated exchanges in Japan when the rules come into effect in 2017,” said Quoine.

Quoine is a Singapore based bitcoin exchange.