HandCash fashions itself the embodiment of bitcoin founder Satoshi Nakamoto’s vision and now it has strengthened its financial muscles to keep developing its cryptocurrency wallet through a new funding round.
While HandCash didn’t say how much cash had been injected into the company, it did name venture capital firms Two Hop Ventures and Unbound Capital as its new investors.
“It’s brilliant to be talking about employment and investments at a time like this when so much of the global economy seems to be struggling,” said Alex Agut, co-founder and CEO of HandCash. “It shows the strength of the BSV ecosystem that expansion, funding and use cases are on the rise on a daily basis.”
Essentially, HandCash claims that it is helping to create a system where micropayments are more commonplace, something it says bitcoin is particularly well-suited for because it enables big transaction volumes to be processed for tiny fees.
“We have been impressed with the development of HandCash as a product from the very start but to see that they are constantly looking to improve and innovate made the decision to invest an easy one,” said Jan Smit, partner at Two Hop Ventures. “HandCash is the perfect fit in our strategic focus on bitcoin key managers and data managers, the critical building blocks for the secure user-centric next generation internet.”
Zach Resnick, managing partner of Unbounded Capital, added, “HandCash embodies what Bitcoin was designed to be – a fast, P2P payment system with very low transaction fees. But beyond that, Alex and his team never sit still and the wallet is an ever-evolving product that looks set to be a market leader.”
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