Digital Currency Exchange Service AlphaPoint Receives $1.35 Million in Funding

AlphaPoint

AlphaPoint’s funding will enable them to further develop their exchange platform

AlphaPoint is a digital currency exchange platform. AlphaPoint boasts its ability to handle up to 1,000,000 trades per second. It currently supports Bitcoin, Litecoin, Peercoin, Feathercoin, Namecoin, and Terracoin. Both startups and existing exchanges can use this platform. Today, CNBC announced that AlphaPoint received $1.35 million in funding from investments.

Funding from Multiple Investors

AlphaPoint received its $1.35 million in funding from multiple investors, including Robin Hood Ventures, Ben Franklin Technology Partners, and Gabriel Weinberg, CEO of search engine DuckDuckGo. Over a dozen digital currency exchanges already utilize AlphaPoint’s platform, including bi.tt, an up-and-coming cryptocurrency trading platform for the Caribbean region.


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Also read: Trading Bitcoin Through Top Exchanges

According to CNBC, the investment “will support AlphaPoint’s international growth and development of its products and services, and enable the company to more swiftly ease the adoption of digital currencies around the world.” AlphaPoint shares that they have strong security with four layers of protection, explaining that they use the same practices used by military platforms.

As Bitcoin continues maturing, certain exchanges will come out on top and become more popular than others. MtGox was the leading exchange until its collapse, and since then, trading has been pretty well spread out between Bitcoin exchanges with no clear leader. Exchanges have and will continue to make attempts to be the top exchange. Many of these exchanges are doing so by adding new features, such as Chinese exchange OKCoin, which announced that it would be implementing a futures trading platform.

The Team Behind AlphaPoint

Vadim Telyatnikov, who was the Senior Vice President at OpenX Lift, is the CEO of AlphaPoint. Telyatnikov’s LinkedIn profile shows he has a solid history in advertisement optimization. Joe Ventura, founder and CTO of AlphaPoint, has experience working with computer financial systems. Jack Sallen, Co-Founder and Vice President of Development, also has experience with financial services.

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This funding will help AlphaPoint grow, and these investors clearly saw its potential. I’ll be keeping an eye on AlphaPoint; it’ll be interesting to see what it does and how it will affect Bitcoin exchanges.

What do you think about AlphaPoint’s funding? Tell us in the comments section below!

Images from AlphaPoint and Shutterstock.