South African startup Centbee, a Bitcoin wallet provider that facilitates transaction between global consumers, retailers and other merchants using Bitcoin has raised money from nChain Group. The funding deal was made through the nChain Group’s investment entity, nChain Reaction Ltd as stated in the press release yesterday.
Founded by co-CEOs, Lorien Gamaroff and Angus Brown, the Centbee wallet will be available in the Apple and Google Play stores by first half of 2018..
“Centbee will be rolling out mechanisms for merchants to accept Bitcoin Cash payments more cheaply and securely than current bank payment systems without exposure to price volatility,” says Brown.
Gamaroff explains that, “In addition to providing financial investment, nChain’s research, intellectual property and deep technology expertise will enable Centbee to become a functional and secure wallet provider which will open up Bitcoin Cash merchant payments to a global market.”
nChain Group CEO Jimmy Nguyen remarks: “Centbee has one of the most user-friendly Bitcoin wallets and merchant payment solutions we have seen. It smartly embraces Bitcoin Cash because its bigger blocks, low fees and fast transaction network represent the true vision of Bitcoin. We look forward to supporting Centbee as it sparks greater merchant and consumer adoption of Bitcoin Cash in sub-Saharan Africa and beyond.”
The nChain Group is a research and development company of blockchain technologies. The Group includes four business units and previously participated in a USD $1.5 millionSeries A funding round for Yours.org, the Bitcoin Cash-based social network.