Major Bitcoin Wallet Platform Breadwallet Secures $7 Million in Funding as Adoption Grows
Major Bitcoin Wallet Platform Breadwallet Secures $7 Million in Funding as Adoption Grows
Breadwallet, the open-source bitcoin wallet platform used by millions of active users, has recently secured a $7 million funding round to address the rapidly increasing demand towards bitcoin and rising mainstream adoption of the digital currency.
Previously, upon securing its first investment from venture capital and angel investors, Breadwallet focused on the development and deployment of its decentralized and non-custodial iOS bitcoin wallet. Within three years of operating, Breadwallet has expanded across 150 countries, providing necessary infrastructure for bitcoin users and investors.
With the latest multi-million dollar investment, the Breadwallet team announced the establishment of its headquarters in Switzerland, due to its practical regulatory frameworks towards digital currency businesses and the country’s flourishing bitcoin industry.
Breadwallet CEO Adam Traidman stated:
“Switzerland has emerged as a hotbed of digital currency startup activity, and we were attracted by its leadership in conservative financial legislation. Its strong reputation for financial privacy for consumers is the ideal fit for our charter to empower individuals with the benefits of bitcoin.”