Luxembourg-based CoinPlus has secured €172,500 in seed funding, to be used for expanding operations and growing its team.
The company plans on building a bitcoin payment/transfer solution and an exchange.
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CoinPlus joined Technoport, the country’s state run startup incubator and plan on meeting regulators at the end of this month. Luxembourg is a financial haven of sorts, ranking as the 2nd richest country in the world and a magnet for private banking. The country recently opened the Luxembourg Freeport for tax-free storage and trading of valuables. Christian Bodt, CEO of CoinPlus, said:
“We are aware that there are still a number of steps to take before reaching the Grail, but we are optimistic and foresee another funding round in 2014. The choice of Luxembourg was obvious to us. The country offers state-of-the-art technical and administrative infrastructures, providers at the forefront of technology, the proximity of the government and great open-mindedness. The Luxembourg market is also a safe bet for all the players in the financial world.”
Bodt became interested in Bitcoin back in 2010 and says that he has taken leading roles in the Bitcoin communities in London and Paris.