Brazilian cryptocurrency exchange Foxbit has reportedly raised $21m in its Series A funding round.
Okcoin owner OK Group served as the lead investor, according to a report from Coindesk.
With the capital, the company plans to increase the development of new technologies, expand its product and technology teams, and seek acquisitions.
Brazil-based Foxbit operates a crypto exchange, boasting a variety of assets, including bitcoin, ether, Litecoin, TrueUSD and more.
Foxbit CEO João Canhada said, “The company has evolved a lot in recent years and together with my partners we understood that this investment was now a necessary step to further improve the services provided to our customers.”
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