London-based bitcoin exchange Coinfloor is looking to make a big move when it comes to welcoming just more than the pound sterling as a for use in bitcoin trading activities.
On Tuesday, the exchange — which launched just last year — will begin allowing investors to deposit United States dollars, the euro, and even the Polish zloty, according to a Financial Times report published Sunday.
The move will hopefully bring more investors to the platform during a time in which there is incredibly competition in the space, with new exchanges seemingly launching weekly.
According to the above-mentioned Financial Times report, Coinfloor is also expected to close a round of funding in November in the amount of £1 million, or about $1.6 million USD. This latest funding will give the company a value of about £8 million.
Current investors like Passion Capital and TransferWise CEO Taavet Hinrikus are reportedly expected to contribute in the round.
Launch of a fund
Coinfloor’s future plans also include the launch of bitcoin traded fund, linked to a traditional commodity such as gold. These funds (of which the Winklevoss twins are trying to launch here in the United States) is traded like a stock.
In preparation, Coinfloor plans to have private keys to the bitcoin they plan to use in the fund locked up in underground vaults (multi-signature, of curse) to prevent theft, as one might expect.
Additional information on the fund is expected to be available in the coming months.