Hong Kong-based exchange secures $2 million investment

HKCEx, a new Bitcoin exchange that claims it will be the world’s most secure, announced this week that it had secured $2 million in funding from both private investors and local financial organizations.

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Hong Kong-based exchange secures $2 million investment

HKCEx, a new Bitcoin exchange that claims it will be the world’s most secure, announced this week that it had secured $2 million in funding from both private investors and local financial organizations.

The exchange was founded in September 2013 but has yet to go live.

A company statement indicates that the round of investment will go toward building a robust trading infrastructure and merchant platform as well as promoting the company’s brand.

“It is no secret nowadays there are several large exchanges in the world,” HKCEx CEO Pheng Cheah said. “However, all of them experience difficulties working with fiat currencies. Our exchange won’t have these shortcomings.”

To that end, the company guarantees worldwide access thanks to widespread processing centers, allowing customers in Asia, Latin America and everywhere else to transfer funds even via traditional means such as credit cards.

And, of particular note, one company representative said “Mainland customers are welcome,” which becomes interesting now that BTC China is once again accepting renminbi.

The company plans to launch the exchange on March 1. At launch, only Bitcoin will be available for exchange, but within a month it expects to roll out trading for other altcoins.

As far as security, the company promises two-factor authentication and SSL connections. In addition, AES-256 encryption will be used, and information will be saved offline.

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