BitFury Capital announces huge GoCoin investment

Marat Kichikov, managing partner of BitFury Capital, cast the investment as a key demonstration of the firm's commitment to developing the broader bitcoin ecosystem through payment infrastructure. A BitFury spokesman elaborated on the company's philosophy: "As the leading bitcoin infrastructure provider and bitcoin transaction processing company, BitFury uses every opportunity to further enable global bitcoin adoption by making as many financial transactions in bitcoin as possible."

The investment comes with a strategic commitment: BitFury will designate GoCoin as the default payment processor for its entire vendor network. That network includes major merchants like CheapAir, Hustler, and BTC Trip. Steve Beauregard, CEO of GoCoin, pointed out that the investment will bring new business-to-business partners into the company's customer base. In an interview with CoinDesk, Beauregard explained: "The goal is to bring all of [BitFury's vendors] into the ecosystem and have them accepting payments in bitcoin via our platform. So, everything from the providers of electricity to rack space to hosting services, you name it."

BitFury Capital's first two investments, both made in bitcoin, went to an undisclosed wallet provider and BitGo, a firm specializing in bitcoin security and enterprise protection.

September brought additional momentum for GoCoin when it announced a partnership with PayPal's Payments Hub. The deal placed GoCoin alongside major bitcoin payment competitors including Coinbase and BitPay. Beauregard attributed the company's competitive strength to its bottom-up design philosophy, which he said enables GoCoin to support emerging digital currencies as the market develops. "We also continue to look beyond just bitcoin to altcoins," Beauregard said. "I think that [BitFury and GoCoin] share a vision, that we're all sort of watching out for the next major developments in the digital currency space."