Locally based block-chain company Bitt is receiving an additional US $3 million in investment.
Medici Ventures has announced the exercise of an option to purchase additional ownership interest in Bitt.com, the Caribbean's blockchain-based digital payment provider.
According to a statement, Medici Ventures will increase its ownership stake in Bitt's total class a and b common shares by 8.6 per cent in exchange for 3 million dollars in additional funding.
Medici Ventures first invested 4 million dollars in Bitt in early 2016, shortly after Bitt's launch of a digitized Barbadian dollar on the bitcoin blockchain.
This increased investment follows Bitt's recent announcement of a signed memorandum of understanding with Montserrat to launch a digital payments platform for the Caribbean nation and its launch of a digital wallet in Barbados.