Asian bitcoin exchange Quoine secures $2M funding ahead of aggressive expansion

Quoine, a pan-Asian bitcoin exchange, announced it closed a US$2 million angel round of funding from a number of investors and private funds, according to Coindesk.

The young exchange opened shop in June and, while it is officially incorporated in Singapore, does most of its business in Japan. It also recently launched an Indonesian-language site.

In addition to Japan, Singapore, and Indonesia, Quoine plans to quickly expand into Hong Kong, Australia, the Philippines, India, and Europe. It currently trades in Japanese yen, Singapore dollars, American dollars, Euros, Indonesian rupiah, and Australian dollars.

Along with the funding news, the startup also announced a new margin trading and lending system, and that its API is now available for outside developers.

A company spokesperson told Coindesk:

In terms of technology capacity and feature set, we are well ahead of any bitcoin exchange globally by a very significant stretch.

Quoine was built by a team of former banking and fintech professionals, so you can expect something quite a bit more secure, fast, and reliable than the catastrophically defunct Mt. Gox.

See: After Mt. Gox collapse, these bankers want to build a safer Bitcoin exchange

(Source: Coindesk)