San Francisco based Bitcoin Blockchain security and infrastructure provider BitFury Group has recieved $30m in venture funding in a partnership deal with Credit China Fintech. The collaboration with Bitfury is said to be in line with the Credit China's Fintech strategy and will assist the Group in “maximizing the adoption of the Bitcoin Blockchain and private Blockchains into its various Fintech platforms.”
Phang Yew Kiat, CEO of Credit China Fintech, said their investment with BitFury “will further cement our leadership position in the use of Blockchain technologies across our FinTech platforms, taking Credit China FinTech to a new level of competitiveness.” Earlier this week, Credit China Fintech announced it had formed a group to acquire a 36.58% stake in Ping An Holdings. Upon completion, the consortium will make a conditional mandatory general cash offer for all the issued shares of Ping An Securities. This strategic investment is designed to enable the Group’s Fintech services to connect and integrate with Hong Kong’s financial markets and build a sound foundation for the Group’s internationalization strategy. Ping An has been around for quite some time (IE 1970). The company helped to launch Lufax, one of the largest peer to peer lenders in China.