HomeBitcoin NewsPurse.io Scores $1 Million Funding, to Utilize It on a New Product

Purse.io Scores $1 Million Funding, to Utilize It on a New Product

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Purse.io, the well-known bitcoin startup that allows people to trade amazon gift cards is planning to enter a new phase with the recent funding round. The company allows Amazon gift card holders to trade their gift cards/ gift card balance for bitcoin. It offered a unique way for those interested in spending bitcoin for purchases at the time when bitcoin adoption among merchants was low.

According to reports on Coindesk, Purse.io has raised $1 million in seed investment from Digital Currency Group, a well-known VC firm headed by Barry Silbert. The report further states that the company is planning to make use of the funds for its latest Tritium project. While the details about Tritium remains vague, Purse.io expects it to offer great value to its customers and partners like its existing offering.

There are speculations that Tritium may turn out to be a full-fledged bitcoin based e-commerce site built along the lines of eBay. the possibility of Purse.io coming up with such a thing is high as it has already started selling a handful of products through different merchants. Some of the products currently listed on Purse.io include hardware bitcoin wallets, paper wallet printers and more.

A previous blogpost on Purse.io states that the company is planning to build an ‘eBay killer’ online marketplace. according to the post, Purse.io has plans to implement smart contracts, multisignature technologies and blockchain escrows for this process. Tritium can be very much connected to the eBay killer, Purse.io has mentioned in this post. However, we will soon know more about it.

Bitcoin payments is in demand at the moment, a dedicated bitcoin based marketplace will be an attractive offering from Purse.io for the expanding bitcoin community.

Gautham
Gauthamhttps://www.livebitcoinnews.com/
I see, I think and I do... passionate about digital currency, start-ups and social good. I believe that if you mix them right, you can change the world. Find me @gautham_n on twitter or /gautham,nm on facebook

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