Credit China Fintech Holdings Limited, Hong Kong-based fintech company, announced that it has entered into a deal with blockchain provider BitFury Group Limited. The US$30 million deal includes an investment in the shares of BitFury as well as an establishment of a joint venture that is focusing on the Chinese market.
According to the announcement, the collaboration of Credit China Fintech with BitFury will assist the group in maximizing the adoption of bitcoin blockchain as well as private blockchain into its various fintech platforms.
“Blockchain is a fast emerging technology allowing effective secured value transfer over the internet. Our collaboration with BitFury will further cement our leadership position in the use of Blockchain technologies across our FinTech platforms, taking Credit China Fintech to a new level of competitiveness,” Phang Yew Kiat, Vice-Chairman, and CEO of Credit China Fintech, stated.
BitFury Group, which is a bitcoin and private blockchain infrastructure provider and transaction company, offers a full-service chain of hardware and software products. Earlier this month, Bitfury Group announced that it is launching the first Global Blockchain Business Council (GBBC) in collaboration with Covington, an international law company.
“We are deeply grateful to Credit China FinTech for both its forward-looking embrace of technology and its confidence in Bitfury. China is a visionary country and we are honored to have the opportunity to expand the work of our company to this significant part of the world,” Valery Vavilov, CEO, and Founder of BitFury, said.
