BitFury Group creates seed funding to expand digital currency ecosystem

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BitFury Group has announced it is launching ‘BitFury Capital’: a seed investment fund.

The fund will leverage BitFury’s position in Bitcoin and cryptocurrency infrastructure to accelerate other parts of the ecosystem through strategic partnerships, and expansion into adjacent business opportunities.

The fund will be a subsidiary of the BitFury Group, and will focus on seeding early-stage funding together with external partners. It will also have the ability to participate in later-stage rounds by drawing on strategic capital. Besides providing seed funding, BitFury Capital will also deliver knowledge and resources from the group to accelerate start-ups.

“We are a trusted partner to our customers, and other contributors to the cryptocurrency ecosystem,” said Valery Vavilov, chief executive officer, BitFury Group. “Our leadership position in cryptocurrency and Bitcoin infrastructure will help accelerate and help grow the significance of other parts in the ecosystem – which in return grows the value of our own core business, and enables us to expand into new opportunities within the industry.”

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