Blockchain startup Bitt raises USD 4 mln from Overstock.com

Bitt offers a digital asset exchange whose core focus is on providing access to cryptocurrencies in emerging markets with a trading platform that is claimed to offer the access, security, customer service, transparency, and accountability.

Bitt’s platform also offers exchange services that allow users from outside the region to make payments in Bitcoin to Bitt itself, which can then be transferred to digital Barbadian dollars.

The company said in was use the new money to further its goal of building a financial ecosystem in the Caribbean that remedies the issues which people in the region experience daily, including high frictional fees from banks and other money services operations that make sending money in and out of the region cumbersome and costly.