Buttercoin

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Buttercoin
Type Private
Industry Bitcoin exchange and transfer
Founder(s) Cedric Dahl, Bennett Hoffman[1]
Headquarters Palo Alto, California, U.S.[2]
Number of locations 1 office
Area served Worldwide
Key people Cedric Dahl (CEO)
Bennett Hoffman (CTO)
Kevin Zhou (Head Economist)
Kevin Adams (Lead Developer)
Services Bitcoin exchange service in partnership with local businesses[1]
Total assets ~$1.6 million (2013)[3]
Employees 4 (2013)[4]
Website Buttercoin.com

Buttercoin is a private American start-up company that provides a Bitcoin exchange services to other companies.[2][3] Specifically, Buttercoin develops a white-labeled platform for creating local Bitcoin exchanges and partners with local currency exchange and transfer businesses to be legally compliant to local regulations and to acquire access their partners' client base.[1]

Locations[edit]

The initial planned Buttercoin partnership locations were in India,[1] the U.S., Canada, Brazil, Hong Kong,[2] and several locations in Europe.[3]

Developers[edit]

The founders Cedric Dahl and Bennett Hoffman have previously built a hacker house in Austin, Texas, sold an analytics company, and filmed a Parkour documentary.[1] Previously employed by Microsoft, Dahl worked on applying analytics to marketing and managed a $120 million budget.[1] Together, Dahl and Hoffman initially started a Bitcoin mining operation called CoinHarvest, and subsequently moved on to developing Buttercoin.[1] Kevin Zhou previously worked as economist at Standard & Poor's.[1]

Funding[edit]

Y Combinator, Google Ventures (Kevin Rose and Chris Hutchins), Floodate, Initialized Capital, Rothenberg Ventures, and Reddit co-founder Alexis Ohanian invested approximately $1 million into Buttercoin.[1][4] A Swiss company, Centralway Ventures, invested an additional $250,000 into Buttercoin.[3] Combined with other sources, Buttercoin raised a total of $1.6 million as of September 2013.[3]

See also[edit]

References[edit]

  1. ^ a b c d e f g h i Cutler, Kim-Mai (August 20, 2013). "YC-Backed Buttercoin Uses Bitcoin To Attack The $500B-A-Year Remittances Economy". TechCrunch. Retrieved November 30, 2013. 
  2. ^ a b c Reutzel, Bailey (September 9, 2013). "Buttercoin Takes a Different Path to Handling Virtual Currency". PaymentsSource. Retrieved November 30, 2013. 
  3. ^ a b c d e Lomas, Natasha (September 18, 2013). "Swiss Company-Builder Centralway Opens $50M Fund, Invests $250k In Bitcoin Whitelabel Exchange Buttercoin". TechCrunch. Retrieved December 1, 2013. 
  4. ^ a b Kolodny, Lora (August 19, 2013). "International Bitcoin Exchange Buttercoin Raises $1M to Revamp Remittance". VentureWire. Retrieved November 30, 2013. (subscription required (help)). 

External links[edit]