According to BitX, the funding will be invested in recruitment and product development, as well as expanding the service beyond its current target consumers in markets including Indonesia, Malaysia, Nigeria and South Africa.
BitX had previously raised USD 4 million in July 2015 in a round led by Naspers Group and including Digital Currency Group (DCG). That funding followed a USD 824,000 deal in August 2014 that included Ariadne Capital, DCG and angel investor Carol Realini.
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