BitMart Reveals Investment from China-Based VC Company Fenbushi Capital

Digital assets trading platform BitMart has purportedly raised “millions of investment” from Chinese blockchain-focused venture capital company Fenbushi Capital. BitMart revealed the news on August 7.

To give transparency to the worldwide economy with the investment, BitMart has joined more than 50 international blockchain initiatives Fenbushi has invested in, intending to attain more transparency and proficiency within the worldwide economy.

Sheldon Xia, founder and CEO of BitMart, said:

“The strategic collaboration with Fenbushi Capital and Bitrise Capital will undoubtedly help to establish a more open and transparent capital raising ecosystem for both investors and high-quality assets.”

After the investment, BitMart’s Global Strategic Advisory Committee will onboard new member, Fenbushi Capital founder and general partner Bo Shen. Shen follows a set of new board members like Kevin Shao, the general manager of blockchain department of mining machines producer Canaan Creative.

As detailed in February, peer-to-peer Bitcoin (BTC) marketplace Paxful announced a partnership that saw Paxful integrated as a means of encouraging BTC instalments on the BitMart platform.

At the time, Xia emphasized that the collaboration will altogether grow the number of ways by which the exchange’s clients can buy Bitcoin, expressing:

“With this partnership, investors will now have direct access to multiple payment approaches including bank transfers, gift cards, debit/credit cards, and cash deposits, lowering the barriers to entry for new adopters of digital currency investment.”