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IBEX Mercado raised $4 million in a seed round of funding, bolstering the company’s ambitions to expand in the Americas and Europe.
“People still have the wrong concept about Bitcoin”
According to a news statement given to Bitcoin Magazine, IBEX Mercado, an infrastructure startup that onboards banks and companies to Bitcoin and the Lightning Network, has raised $4 million in a seed round of investor funding.
IBEX is valued at $20 million in the seed phase as it seeks to expand in the Americas and Europe.
As the $20 million valuations, fuelled by Stillmark, LUM Ventures, Fulgur Ventures, Hivemind Ventures, and Ten31, converges on the purpose of growth in the Americas and Europe, expansion and customer acquisition are placed in IBEX’s reticle.
According to the press release, “many people still have the wrong concept about Bitcoin.” Jose Luis Lemus, the founder and CEO of IBEX Mercado, remarked, “Many people still have the erroneous idea about Bitcoin.” “It’s not merely a store of value, or even a faster and cheaper means to transact: it’s the platform for history’s most bold, transformational shift of financial power.”
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Game-changing development
IBEX was a key player in El Salvador’s adoption of bitcoin as legal money.
They assisted firms such as Starbucks in achieving excellent turnaround times for adopting the Lightning Network, which allows bitcoin users in the country to transact.
With each step it makes toward attaining its hyperbitcoinization ambitions, the small Guatemala-based company keeps the unbanked’s values and needs in mind.
Many investment firms have joined IBEX in observing the growing number of Lightning Network implementations offered to enterprises. IBEX is working to prepare the globe for what they see coming next as Lightning develops.
“They gain rapid access to a large spectrum of clients and new revenue streams by unleashing this enormous long-tail of previously forgotten people,” Lemus added “This investment highlights the game-changing economic possibilities that Lightning will bring to the globe.”
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
