Singapore Bitcoin Exchange Quoine Completes $20 Million Funding and Moves Headquarters to Tokyo, Japan

Singaporean bitcoin exchange Quoine has raised $20 million in a round of funding to capitalise on the significant opportunities in the Japanese bitcoin market, led by venture capitalists (VCs) and other ‘strategic investors’.

In December 2014, Quoine's last round of financing received $2 million in angel investment.

After receiving this investment, the company's headquarters will be transferred from Singapore to Tokyo, Japan. The Singapore office will continue to operate as a subsidiary. Quoine's development in Japan can be described as smooth sailing. In 2015, Quoine reached a deal with payment network Econtext to allow 20,000 online and physical merchants in Japan to accept Bitcoin payments.

Quoine co-founder and CEO Mike Kayamori explained in the interaction that they will continue to focus their development on Asia, as Bitcoin trading in the region has exceeded expectations.

This year, Japanese bitcoin exchanges have made a series of investments. In April 2016, BitFlyer completed a $27 million investment; in May 2016, Zaif raised $6.5 million.

As companies continue to participate in Bitcoin investment, this type of financing reflects that the largest blockchain and Bitcoin investment transactions in 2015 were made by corporate and strategic investors, and this trend will continue in 2016. This comes at a time when financial institutions and enterprises are facing the combination of Bitcoin and blockchain.

The top five blockchain/bitcoin investment deals from 2013 to 2016 so far