BitFury Group announces investment in BitPesa

The BitFury Group invested in BitPesa to help pan-African economic growth and improve access to secure and affordable payment systems.

SAN FRANCISCO – February 29, 2016 – BitFury Group, the world’s leading Bitcoin blockchain equipment provider and transaction processing company, announced today that it has invested in BitPesa.

BitPesa is a global Bitcoin payments and transaction platform that seeks to give the pan-African continent free access to the benefits of the global economy.

"Our mission is to make global transactions easier, especially for countries that still face barriers to financial growth," said Valery Vavilov, CEO of BitFury. "With BitPesa, a secure, transparent and trusted form of transaction is now possible. Our investment will allow both companies to work together to leverage the innovative power of the Bitcoin blockchain for the benefit of the entire African continent."

“It’s great to have the support of the BitFury Group, which is working really hard to build community among bitcoin companies big and small,” said Elizabeth Rossiello, CEO of BitPesa. “Valery and his team have a long history in frontier markets, and nothing is more important to our team than to have the understanding and support for our work.”

The strategic investment was made by BitFury’s investment arm, BitFury Capital.

BitPesa's Important Company Background

BitPesa allows people and businesses from around the world to quickly and securely make payments to and from Kenya, Nigeria, Uganda and Tanzania. The company accepts bitcoins in exchange for local African currencies, which are then deposited into African bank accounts or mobile wallets. BitPesa also sells bitcoins in Kenya, Nigeria and Uganda, where people do not have access to other bitcoin exchanges. BitPesa is licensed as an authorized payment institution by the Financial Services Authority (FCA). Compared to the traditional way Africans exchange bitcoins from informal brokers or cash agents, BitPesa is a more trusted way. BitPesa also uses bitcoin to exchange directly between African currencies and other global currencies, reducing unnecessary and expensive reliance on the US dollar as a means of transaction.

About BitFury Group

The BitFury Group is the world's largest private Bitcoin blockchain equipment provider and transaction processing company. Founded in 2011 by Valery Vavilov and Valery Nebesny, BitFury has established management offices in San Francisco, Washington, D.C., Hong Kong, Amsterdam, and London, as well as data centers in Iceland and the Republic of Georgia. BitFury achieves sustainable advantage through its custom Application-Specific Integrated Circuits (ASICs), optimized to achieve the lowest power consumption at the highest processing standards (the parameter that drives mining profits). BitFury has an impressive track record - the company has successfully launched several generations of semiconductor silicon technology. BitFury has also established a roadmap to double performance every 6 to 12 months. BitFury's management team and board of directors include industry insiders with rich experience in silicon engineering management, operation construction and corporate capitalization.

BitFury is a registered trademark of BitFury Limited

About BitPesa

BitPesa allows people to buy and sell African currencies using Bitcoin, with transactions settled directly to and from African banks and mobile money accounts. Businesses and traders can now make payments to and from East, Central and West Africa with fast, low-cost and simple payments, eliminating the stress and cost of international bank lines and numerous intermediary transactions. Payments from Euros in Copenhagen to Congolese Francs in Kinshasa take just minutes and do not require the use of US dollars as an intermediary currency. Payments from a Naira account in Lagos to a Chinese importer in Hong Kong are made instantly and completely securely. Sell your Bitcoin from Canada at the best price and receive payment in your Kenyan bank account. BitPesa is connected to a global network of intermediaries that can settle instantly using Bitcoin when rates are best. BitPesa has the deepest liquidity and local visibility in all of Sub-Saharan Africa's major markets.

Original article: http://www.newsbtc.com/2016/02/29/bitfury-announces-investment-in-bitpesa/
Author: Guest Author
Compiled by: Kyle
Source (translation): Babbitt Information (‎http://www.8btc.com/bitfury-invest-bitpesa )