NEM Ventures invests in cryptocurrency transaction provider Cyclebit

NEM Ventures, the venture capital and investment arm of the NEM blockchain ecosystem, announced today has made a strategic investment in Cyclebit, a provider of simple tools for retailers to accept cryptocurrencies and fiat for in-store, online and on-the-go purchases. “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.

Cyclebit has enabled users to pay with NEM’s native cryptocurrency, XEM, since 2018, and this strategic partnership investment will further support the growth of NEM’s Catapult technology leading up to its launch in early 2020. – Sameer Pirani, CEO of Cyclebit As the venture capital and investment arm of the NEM Blockchain ecosystem, NEM Ventures promotes the growth of NEM technology through strategic investment in meaningful, high-tech projects.

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