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Bitcoin Company IBEX Raises $4 Million, Eyes Expansion

Bitcoin Company IBEX Raises $4 Million, Eyes Expansion thumbnail
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  • IBEX Mercado closed a $4 million seed spherical funding.
  • The seed spherical locations a $20 million valuation on IBEX as they search to broaden within the Americas and Europe.
  • The investor class contains Stillmark, LUM Ventures, Fulgur Ventures and others who share IBEX values in helping “previously-neglected individuals” acquire entry to unprecedented financial alternative.

IBEX Mercado, an infrastructure firm that on-boards banks and companies to Bitcoin and the Lightning Network, secured $4 million in a seed spherical of investor funding, in line with a press launch despatched to Bitcoin Magazine.

Expansion and buyer acquisition are set in IBEX’s reticle because the $20 million valuation, fueled by Stillmark, LUM Ventures, Fulgur Ventures, Hivemind Ventures and Ten31, converge on the intention of progress within the Americas and Europe.

“Many individuals nonetheless have the fallacious concept about Bitcoin,” stated founder and CEO of IBEX Mercado, Jose Luis Lemus, per the discharge. “It isn’t only a retailer of worth, or perhaps a sooner and cheaper means of transacting: it’s the platform for essentially the most audacious, transformative shift of economic energy in historical past.”

IBEX was instrumental within the rollout of bitcoin as authorized tender in El Salvador. They helped companies like Starbucks obtain spectacular turnarounds for implementing the Lightning Network, permitting customers within the nation to transact with their bitcoin. The small Guatemala-based firm holds the values and wishes of the unbanked on the forefront of its thoughts with every step it takes in the direction of attaining its hyperbitcoinization objectives.

“It’s obscene that within the twenty first century, a 3rd of the planet stays unbanked and a fair higher quantity are underbanked – together with on this planet’s richest societies,” Lemus stated. “The Lightning Network will convey these individuals into the worldwide financial system, enabling them to transact competitively and equitably, and giving them cost of their very own monetary future for the primary time of their lives.”

IBEX finds itself accompanied by many funding corporations eyeing the rising implementations out there to companies via Lightning Network integration. As Lightning improvement continues, IBEX seeks to arrange the world for what they see coming subsequent.

“By unlocking this immensely long-tail of beforehand uncared for individuals, they acquire prompt entry to an enormous vary of consumers and new income streams,” Lemus stated. “This funding is testomony to the unprecedented financial alternatives that Lightning is about to convey to the world.”

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