Coinify, a Copenhagen-headquartered cryptocurrencies payment processor, has secured new funding to the tune of $4 million in a Series A round. The funding round was backed by Seed Capital Denmark and the venture capital arm of Swedish financial group Skandinaviska Enskilda Banken AB (STO:SEB-A). The European startup, which already holds a strong foothold in Asia, will use the funds to continue its growth.

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David Sonnek, head, SEB Venture Capital, commented: “Coinify has developed a unique platform for blockchain payments and fits perfectly in our portfolio of FinTech investments. We at SEB Venture Capital really look forward to contribute to Coinify’s future development.”

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Mark Højgaard, CEO, Coinify, added: “The fact that our current investors are joined by a classic, yet very visionary bank dating back to 1856, sends a strong message to both the banking and the blockchain communities. We plan to use this investment to sustain our leading position in Europe and expand our blockchain payment and trade products into Asia.”

Back in February, Vietnam’s bitcoin exchange Bitcoin Vietnam Co. Ltd. partnered with Coinify to bring blockchain merchant processing tools to the Vietnamese market, and in March Coinify secured a strategic partnership with iPayDNA International to bring blockchain payments to its many merchants in the Asia Pacific region.