Switzerland's Centralway Invests $250K in Bitcoin Startup
The Bitcoin startup known as Buttercoin now has substantial backing from Centralway, a Swiss company builder.
Buttercoin is a promising new venture that aims to break down cross-border currency barriers. It is poised to revolutionize the international remittances market through the use of cryptocurrency. The company states that it will open Bitcoin exchanges in every country, beginning with India. In order to keep fees low, Buttercoin will partner with local currency exchange businesses that will also help it gain legal footing.
Centralway's first company-building endeavor is a mobile banking app called Numbrs. Centralway sees itself partnering Numbrs with Buttercoin in hopes of facilitating low-cost banking transfers.
According to Severin Ruegger, Centralway's Managing Partner, the company has chosen to invest in Buttercoin for three major reasons:
1. Charging 10% for international transfers is not sustainable in the long run, and is set to be disrupted.
2. Buttercoin's team is ambitious, and Centralway's team is capable of helping it executing this large-scale cryptocurrency vision.
3. There is substantial technology behind Buttercoin.
We are anxious to see where this leads. Cryptocurrency is likely to sweep the market in a significant way in the near future.
