Singapore Bitcoin payment company Coda Pay receives $2 million in funding

Singapore-based bitcoin startup Coda Pay has announced that it has raised $2 million in funding led by Golden Gate Ventures, GMO Global Payments Fund, and Skype co-founder Toivo Annus.

With this funding, Coda Pay hopes to expand its business in the Asian market.

It is reported that the company has reached partnerships with domestic giants Huawei, UCWEB and Baidu, and received $2.3 million in financing in 2013. In addition, Japanese e-commerce giant Rakuten Group also participated in the company's investment.

The company's co-founders are Bobby Choi, Paul Leishman and Neil Davidson.

As early as August 2015, Coda Pay partnered with BitX to provide Bitcoin payment options for online traders.

In Southeast Asia, credit card services cover less than 10% of the population, which means there is a lot of room for Coda Pay to expand its services. Neil Davidson, CEO and co-founder of Corda Pay, revealed that the company's initial service scope was focused on Indonesia, and now covers five new countries: the Philippines, Vietnam, Thailand, Singapore and Malaysia. Davidson explained that the company's next focus will be Taiwan.