Taiwan’s CoolBitX Raises $16.75M in Funding Round Led by SBI Holdings

CoolBitX has raised $16.75 million in a Series B funding cycle led by Japan’s SBI Holdings Inc. CoolBitX is a Taiwan based blockchain security company that offers services to help crypto exchanges abide by more rigid international standards for the collection of user information. 

The Chief Executive Officer Michael Ou stated in an interview that after the latest funding round, CoolBitX is currently valued at $91 million.

A press release by CoolBitX gives the names of the other participants involved in the fundraising which includes Japan’s Monex Group Inc., the National Development Fund of Taiwan, and Korean crypto exchange BitSonic. 

Yoshitaka Kitao, SBI’s CEO said in a press release,

As one of the early investors in CoolBitX, SBI Holdings is happy to see the breakthroughs made by the CoolBitX team to drive cryptocurrency adoption forward.

Primarily, CoolBitX provides two main services one of which is a physical wallet, named, CoolWallet S, used to send and receive crypto tokens. The other provided service is a software solution, Sygna Bridge helps firms that trade-in digital assets to follow the new guidelines provided by the Financial Action Task Force regarding money laundering.     

Ou further stated,

CoolBitX will use the cash injection to help fund its global corporate expansion beyond the Asia-Pacific region, and to open offices in Japan and Korea.

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