A digital currency company collects a record amount of funding.

On January 12th, as  Coindesk.com reports, Bitreserve closed its crowdfunding campaign. 157 investors brought in a total sum of $9,620,802. The money was collected on two separate platforms to make the investment process easier for users: Crowdcube in the UK and Venovate in the US.  

Bitreserve confirms that the money gathered will be used to build up a larger engineering team and fund further international expansion. Tim Parsa, Bitreserve’s president of global strategy and markets, believes that using crowdfunding platforms was “an attempt to address the limited investment opportunities available to the general public for technology companies”, helping people to accomplish their “right to invest in innovation”.  

Bitreserve is a bitcoin storage platform launched on October 30th, 2014. According to the company’s website, “Bitreserve makes moving money as fast, free, and easy as email”, enabling “zero-cost money transfers and payment processing, but with none of bitcoin’s problems and complexity”. The cloud-based service aims to supplant “the slow, expensive, and inefficient legacy systems used by banks” .

According to Luke Lang, co-founder and CMO of Crowdcube, the success of the fundraising campaign “demonstrates there’s real interest in the future of digital money”.