Copernicus Gold, which enables users to digitally acquire, save and store gold, has reportedly closed a $3.5m investment.
The Singapore-based company closed the investment in H2 2017, from an unnamed investor, according to a report by e27. The equity was used to build a shared value facility in Singapore and for marketing, it states.
The platform, which is available on Android, iOS, and desktops, uses blockchain technology to enable users to make cashless transactions. The company issues digital gold, that is linked to a stored value of gold.
Through the app users can access a multi-currency wallet, pay through either currency or gold, send and receive transactions and collect physical gold. The application, which uses blockchain to support customer authentication, can enable transactions around the world and track transactions.
Earlier in the week, Singapore-based InsurTech platform Axinan secured an undisclosed investment led by NSI Ventures. The capital was raised to support its expansion across the Southeast Asia market.
Last year, HelloGold, which is based in Malaysia, closed a $12m Series A round to support it moving in to the Thailand and China markets. The company is a Shariah compliant gold digital platform, that lets consumers buy and sell gold.
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