Chilean Bitcoin Exchange SurBTC Raises $300,000 in Funding

On February 5, Chilean Bitcoin exchange SurBTC has received $300,000 in seed round financing. Participants include Digital Currency Group (DCG), venture capital firm Sauzalito Ventures and Fernando Barros, founder of Chilean law firm Barros & Errazuriz.

Prior to this, the exchange had received a $100,000 investment from CORFO, a corporate innovation incubator under the Chilean government.

SurBTC told reporters that the funds will be used to develop bitcoin-centric products and services, with a particular focus on international remittances.

Guillermo Torrealba, co-founder and CEO of SurBTC, believes that Bitcoin is a tool that can give people living in South America better access to financial resources.

Torrealba said:

“We are convinced that this technology will eventually help the millions of South Americans who do not have access to bank accounts, allowing them to send money back to relatives abroad.”

The funds will also reportedly be used to build additional Bitcoin liquidity on the exchange and explore possible new markets in South America.

Original text: http://www.coindesk.com/227606-2/
By Stan Higgins
Translator: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/surbtc-300k)