Startup Raises $600K to Build Bitcoin Cash Mobile Wallet

CoinText.io, a blockchain startup building up an approach to lead disconnected bitcoin money exchanges, closed a $600,000 seed financing round, the organization reported Friday.

Lead by Texas-based Yeoman’s Capital, which has beforehand put resources into Fantom, OpenGarden and tZero, the financing round will be utilized to build up a portable wallet which can support bitcoin money exchanges led by means of instant messages, without requiring either web access or wallet addresses, as indicated by an official statement.

The startup’s CTO, Vin Armani, said the funding firm will likewise give different types of help, including counsel and direction, as CoinText attempts to extend its platform.He said in a statement:

“We are dedicated to making cryptocurrency easy to use for the maximum number of people. Yeoman’s team brings valuable experience to our mission to deliver useful tools that spread bitcoin adoption far and wide.”

CoinText currently provides services in eight countries, including the U.S., Canada, the U.K., Australia, and South Africa.

The startup is one of a developing number of ventures concentrating on digital money exchanges at the moment. Specifically, it joins different new companies in discovering new methods for directing exchanges in areas without any internet access.
As beforehand announced by Cointhred, blockchain startup goTenna built up a middle person gadget which can empower cell phones to conduct offline transactions. Dissimilar to CoinThread , goTenna’s answer influences utilization of a work to organize – an advanced framework which enables clients to get to the web without Wi-Fi or a landline association.