Bitcoin Financial Services Provider River Announces $35 Million Series B Fundraising Round

Bitcoin exertion and fiscal services company, River, has announced a palmy $35 cardinal equity circular successful its Series B fundraising effort. Led by Kingsway Capital, the circular besides saw information from notable investors specified arsenic Peter Thiel, Cygni, Goldcrest and Valor Equity Partners. The institution provides a scope of Bitcoin services, including zero-fee recurring orders, full-reserve custody, mining and a Bitcoin wallet that supports some on-chain and Lightning Network transactions.

Alex Leishman, the CEO of River, highlighted the increasing involvement successful Bitcoin driven by concern and organization adoption. He emphasized the value of Bitcoin arsenic a unafraid way to a stronger and much transparent planetary economy, particularly successful airy of caller slope failures and bailouts. Leishman stated, "Adopting Bitcoin with a trusted spouse is nary longer the speculative choice, but alternatively the prudent one."

According to a property merchandise sent to Bitcoin Magazine, River has experienced important maturation successful request for its endeavor Lightning API, River Lightning. This API enables companies to integrate with the Lightning Network and facilitate instant Bitcoin payments. Notably, El Salvador's Chivo wallet relies connected River Lightning for Lightning transactions. The surge successful request for Lightning transactions, driven by rising on-chain fees, has prompted River to grow its B2B River Lightning segment.

Leishman emphasized River's committedness to liable and reliable practices, mounting the institution isolated from others successful the crypto industry. He noted, "We person not taken shortcuts oregon reckless risks with our regulatory strategy and merchandise offering. We're a mission-driven institution with full-reserve Bitcoin custody, and volition proceed to play our portion successful moving nine towards a brighter economical aboriginal powered by Bitcoin."