Startup CoinText Raises $600K To Build Bitcoin Cash Mobile Wallet

CoinText.io, a blockchain startup building up an approach to lead offline bitcoin money exchanges, closed a $600,000 seed funding round, the firm announced.

Lead by Texas-based Yeoman’s Capital, which has already invested into Factom, OpenGarden and tZero, the financing round will be used to build up a portable wallet which can bolster bitcoin money exchanges led by means of instant messages, without requiring either web access or wallet addresses, according to a public statement.

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

Vin Armani, Cointext.io’s CTO, stated that the investment firm will provide other types of support like guidance, as CoinText works to expand its platform.

“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,” he stated.

CoinText as of now gives benefits in eight nations, including the U.S., Canada, the U.K., Australia, and South Africa.

The firm is currently present in eight different countries including the U.S., Canada, the U.K., Australia, and South Africa.

The startup is one of a developing number of endeavors concentrated on instant cryptocurrency exchanges. Specifically, it joins different new businesses in attempting to discover methods for directing exchanges in zones without internet access.

Blockchain startup goTenna built an intermediary device which can empower cell phones to lead offline exchanges. Not at all like CoinText, goTenna’s solution makes use of a mesh network – a computerized foundation which enables clients to get to the web without Wi-Fi or a landline connection.