Thursday, December 26, 2013

Hong Kong's Richest Man Invests in BitPay

Asia’s richest businessman Li Ka-shing has invested in BitPay, the digital currency equivalent for PayPal, through his venture capital arm Horizons Ventures, reports The South China Morning Post.

BitPay, founded in May 2011, currently handles transactions for 14,000 companies across 200 countries. About half of the transactions take place in the United States, 25 per cent are in Europe and 25 per cent in the rest of the world. But, in China, the country’s central bank has ordered third-party payment platforms to stop giving clearing services to bitcoin, litecoin and other crypto-currencies before the end of January.

The amount of Li's investment was not disclosed.

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