Canaan Partners and RRE Ventures Lead US$3.3 Million Investment in Singapore-based Bitcoin Exchange itBit (Asia)

Source: itBit

Venture capital firms Canaan Partners and RRE Ventures have led a US$3.3 million funding round in Singapore-based itBit, a digital currency exchange platform. Other investors in the round included seed stage fund Liberty City Ventures and individual angels. itBit, which offers an electronic global currency exchange for trading digital currencies like Bitcoin, intends to use the funding to support its global operations, expand its offerings and pursue regulatory approvals.