The first quarter of 2020 has been a challenge for many and we hope and believe that the global situation with Covid-19 will soon change for the better.
We see the transition towards digital operations for businesses as a clear market opportunity to strengthen emerging applications and the ecosystems that surround them.
Our focus at BitSpace this quarter has been towards building and strengthening the companies in our portfolio, working with regulatory compliance and making sure that each team moves forward and continues to develop the solutions of tomorrow.
Please see below our progress report for Q1 2020.
BitGate secured its license from the Norwegian Financial Authorities. This is a key milestone for the digital wallet App that allows us to operate virtual currency custody, payments and exchange services in Norway and provide a secure, compliant and accessible ecosystem for our users.
A merger was carried out between BitGate and fellow BitSpace portfolio company HandleKrypto. Serial entrepreneur and founder of the norwegian exchange platform HandleKrypto, Olav Småriset, has now taken on the role of CEO in the new BitGate to lead the development team and help to create the BitGate Digital Finance Group.
The BitGate Digital Finance Group will work towards expanding digital financial services through lean automation and take a unified approach towards compliance, data privacy and strategic expansion for users in the Nordics.
During this quarter HandleKrypto became part of the BitGate Group. The company recently secured its license from the Norwegian Financial Authorities to operate regulated fiat to virtual currency exchange in Norway. The timing was a success and we look forward to announcing more news on the synergies between the companies in BitGate.
Handlekrypto is working to enable automated purchase and sale of cryptocurrency with lower fees, more payment methods and account registration for higher limits.
HandleKrypto already has an international cryptocurrency to cryptocurrency conversion service that supports hundreds of cryptocurrencies.
In Q1 Keys4Coins, a digital currency Ecommerce platform, increased its product count to 14,688 products. Four times the number of products compared to the end of the last quarter. Keys4Coins now officially supports Dash InstantSend (instantly-settled Dash payments) and we expect to see continued support for different currencies in the coming year.
Event
Our partners at SingularityŃET and the Decentralised AI Alliance have launched a great initiative to help against Covid-19 utilizing the benefits of decentralised artificial intelligence. COVIDathon, a 2-month online hackathon marathon brings global resources together, including SingularityNET and OpenCog team members, Ocean Protocol, Nth Opinion and MIT Safepath.
If you would like to take part in the hackathon or learn more please visit – covidathon.devpost.com
For business inquiries or further information about BitSpace and any of our portfolio companies please feel free to reach out – [email protected]