BitKan, a Bitcoin-focused data and trading services provider, has secured $10 million in a Series B funding round led by China-based financing firm Zhongyunhui Capital.

The funding round also drew contributions from IDG Capital and bitcoin mining giant Bitmain. Back in 2016, Bitmain invested $1.6 million in Series A funding round of BitKan.

BitKan plans to use the new funding towards its expansion activities and build a platform called “K site” within its existing app, CoinDesk reported. The new platform will serve as a paid platform that would share user-generated content, which could be accessed by paying BitKan’s planned KAN token. It is expected to go into open beta on April 20.

"The capital injection will finance the development, promotion and operation of K Site as well as related products and services, such as E-wallet, payment and big data," said Yu Fang, BitKan's CEO.

"Free content can only attract page views, but putting up a paywall can improve content quality considerably," Fang said.

According to the official release, BitKan is recruiting international talents after setting up three new offices in Hong Kong, Singapore and Tokyo recently.