OKCoin raises USD10M in series A round

bitcoin

OKCoin, a Bitcoin exchange in China, has announced the closing of their Series A Round.

The USD10 million round, was led by Ceyuan, a Chinese earliest venture capital firms, followed by Madra Capital, VenturesLab, and numerous high-profile angel investors.

“I have a tremendous amount of confidence in both the future of Bitcoin and the continued growth of OKCoin,” said Mr. Feng Bo, founder and partner of Ceyuan. “We are delighted to invest in the pioneer of China’s Bitcoin exchanges; given the company’s leadership under Star Xu and his team, we know there is much more good news ahead.”

“Our team is passionate about our work, and we are tireless in our pursuit,” said Star Xu, CEO of OKCoin. “We are changing the world, and making Bitcoin more accessible. We have assembled a fantastic team of technologists and we are relentless in our attempts to improve the product. We are upgrading our user interface, our systems functionality, our transaction engine, and our security capability all the time. Our user base has responded well to these enhancements, and we now have a daily trade volume of approximately 50,000 Bitcoins per day and 5 million Litecoins. We are proud to say that we now China’s largest Bitcoin exchange, with the highest daily transaction volume in the country. And we have had a peak of 300,000 Bitcoins and 13 million Litecoins traded on one particular day.”

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