POSaBIT picks up $1.5m investment

Seattle-based digital currency payment solution provider POSaBIT picks up $1.5m investment from Digital Currency Group and several angel investors.

The company helps consumers buy digital currency at the point of sale and then use the currency to purchase items from that store or any other place accepting virtual currency payments, like Amazon or Overstock.

This platform helps retailers to start accepting digital currency as payments, and gives customers an easier way to acquire virtual currency, with no 3rd party app needed. Currently the app has been used in 25 stores across Washington, processing over $2m in sales.

Digital Currency Group founder and CEO Barry Silbert said, “We see the use of digital currencies as a payment rail growing in industries which have had challenges accessing traditional banking services in the past, and are excited to bring POSaBIT into our global network of companies to help them grow their product and offering across a number of industry verticals.”

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