Venture Capital Continues to Fund Bitcoin Startups as Vaurum Secures $4 Million

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term startups continue to attract investors even as prices of the digital currency have fallen this year from above $1000 to a recent $420. Included in the group of companies that have received funding in 2014 are Bitstamp, Kraken, GoCoin, and Circle. Adding to that list is Vaurum which has received $4 million in funding from investors including Tim Draper, Steve Case, and Battery Ventures.

Founded in 2012, along with a growing list of bitcoin firms, Vaurum participated in the Boost accelerator program last year. Led by Co-Founders Avish Bhama and Sean Levine, Vaurum is creating white label bitcoin Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term products aimed at the financial industry. As white label products, financial firms can partner with Vaurum to offer their clients bitcoin exchange and storage services without needing to develop their own platforms. Along with the white label offering, Vaurum also operates its own exchange, BitMe.

Headquartered in Palo Alto, California, the current $4 million funding round follows earlier interest for the firm from investors. In addition to the current funders, earlier investors include Barry Silbert, the Boost Bitcoin Fund, and Ludlow Ventures.