There’s just a whole lot of investment going on in the bitcoin/cryptocurrency industry lately. The latest to report investment cash is Hong Kong-based digital asset exchange Melotic (founded earlier this year).
CoinDesk reports that the company has raised $1.175 million in seed funding in a round led by Ceyuan Ventures, a Chinese venture capitalist firm. Other investors that participated in the round include Lightspeed China, the Bitcoin Opportunity Corp. (led by Barry Silbert), 500 Startups, and Marc Van Der Chijs.
According to the CoinDesk report, the company will be using the funds in order to expand its employee base, and subsequently its operations.
The business of being a “pure digital asset exchange” means that Melotic doesn’t get involved with fiat currencies like the United States Dollar or the Euro. Instead, users can trade a slew of altcoins that include Dogecoin, Darkcoin, Stellar, and Blackcoin. “Appcoins” like LTBCoin (Let’s Talk Bitcoin) and Storjcoin X can also be traded.