{"id":3595,"date":"2020-02-25T14:39:50","date_gmt":"2020-02-25T14:39:50","guid":{"rendered":"https:\/\/www.sygna.io\/?p=3595"},"modified":"2021-05-06T19:41:13","modified_gmt":"2021-05-06T19:41:13","slug":"coolbitx-raises-usd-16-7m-in-series-b-led-by-sbi-holdings","status":"publish","type":"post","link":"https:\/\/www.sygna.io\/zh-hant\/blog\/coolbitx-raises-usd-16-7m-in-series-b-led-by-sbi-holdings\/","title":{"rendered":"CoolBitX’s Series B Round Raises USD 16.7M from SBI Holdings and Exchanges"},"content":{"rendered":"\n
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Taipei, Taiwan \u2014 25 February 2020<\/em><\/p>\n\n\n\n

CoolBitX\u200b announced today that it has closed USD $16.75 million in its Series B funding round, led by Japan\u2019s financial group SBI Holdings, with participation from other investors such as the National Development Fund of Taiwan and the Japanese financial group Monex.\u00a0<\/p>\n\n\n\n

With this funding, CoolBitX<\/a>, a blockchain security company that is building the infrastructure necessary to close the gap between the mainstream market and crypto industry, has laid down its strategy for 2020.<\/p>\n\n\n\n

Having rooted its market dominance in Asia, CoolBitX is expanding the Sygna product line\u2019s presence beyond the APAC region as the first-to-market FATF-compliant solution for virtual asset service providers (VASPs) around the world. <\/p>\n\n\n\n

Regarding its pioneering Bluetooth-enabled hardware wallet CoolWallet S<\/a>, CoolBitX continues to innovate its flagship product with a focus on top-of-the-line security, functionality, and usability. <\/p>\n\n\n\n

Michael Ou, CEO of CoolBitX, said the following:<\/p>\n\n\n\n

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\"Michael<\/figure><\/div>\n\n\n\n
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We are thrilled and encouraged by the support that we have received from our wider community of investors and partners on our journey. <\/em><\/p>

The blockchain and cryptocurrency industry is at a critical juncture. In the global blockchain race, the rate of adoption and innovation in Asia is undeniable, witnessed by regulatory developments and investments in the past year. <\/em><\/p>

Jurisdictions that have passed bills defining a clear set of rules for the industry \u2014 especially those surrounding KYC and AML \u2014 have seen major players in traditional finance enter the space, providing a clear blueprint for regulators around the world. <\/em><\/p>Michael Ou, CoolBitX CEO and founder<\/cite><\/blockquote>\n\n\n\n

Founded and based in Taiwan in 2014, CoolBitX has been at the helm of Taiwan\u2019s crypto and Fintech revolution. As a fintech entrepreneur, Ou is immersed in the development of Taiwan\u2019s fintech industry. Ou is also the chairman of SmartDisplayer Technology, a 20-year old family business and publicly traded company that pioneered banking security solutions.<\/p>\n\n\n\n

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Sygna Bridge- CoolBitX’s FATF R.16 Solution<\/h2>\n\n\n\n
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In June 2019, the Financial Action Task Force (FATF) released its latest standards for combating money laundering and terrorist financing, requiring VASPs of FATF member countries to comply with Recommendation 16 aka the \u201cCrypto Travel Rule.\u201d <\/p>\n\n\n\n

With this rule, cryptocurrency exchanges must collect and transfer originator and beneficiary customers\u2019 personally identifiable information (PII) during transactions, something that hasn’t been possible. <\/p>\n\n\n\n

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CoolBitX launched \u200bSygna Bridge<\/a> in October 2019, providing VASPs with the first market-ready solution so that they may be fully FATF compliant.<\/p>\n\n\n\n

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Signed MOUs with 10 Asian exchanges<\/h3>\n\n\n\n
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By February 2020, more than 10 exchanges have signed Memorandums of Understandings (MOUs) with CoolBitX, joining a consortium of VASPs to begin or consider implementing Sygna Bridge. Currently, the consortium, named the Sygna Alliance, includes <\/p>\n\n\n\n