NEM Invests In Crypto Payment Provider Cyclebit

NEM Ventures, the venture capital and investment arm of the NEM blockchain ecosystem, announced that it has made a strategic investment in Canadian cryptocurrency payments provider Cyclebit. “Cyclebit is already an established player in the crypto and fiat payments space, and we are thrilled to make a strategic investment in this project at a time of major growth for the organization,” said Dave Hodgson, director and co-founder of NEM Ventures, in a press release.

Cyclebit has enabled payments with NEM’s native cryptocurrency, XEM, since last year, and this new partnership will help support the growth of NEM’s Catapult technology before its launch in early 2020. “The upcoming Catapult launch will undoubtedly make waves in the industry, and we are excited to be partnering with NEM Ventures at this monumental time,” said Sameer Pirani, CEO of Cyclebit.

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