Multi-fiat Exchange Launches After $1.5 Million Investment

A new bitcoin exchange, Cayman Islands-based Bitt, has launched following a $1.5 million injection from Avatar Capital.

A new bitcoin exchange, Cayman Islands-based Bitt, has launched following a $1.5 million injection from Avatar Capital.

According to Bloomberg, Avatar Capital is based in New York and “invests in commodity contracts, tax liens, venture capital companies, and other miscellaneous investing.”

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The exchange says to employ an HD multisig wallet system, keeping 95% of bitcoins offline. Bitcoins can be traded with twelve types of fiat: USD, GBP, EUR, AUD, SGD, JPY, HKD, CHF, NOK, TTD, BBD and JMD.

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Bitt is powered by AlphaPoint’s trading software.

As we are seeing with several new exchanges, part and parcel with the trading offering are remittance and merchant integration services, which can leverage the exchange’s order book for conversions.

Trading fees are dependent on the user’s rolling 30-day rolling volume, ranging from 0.18% to 0.49%. Deposits and withdrawals are free.

For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.

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