THELOGICALINDIAN - Just a few canicule ago BitSpark appear that it is awkward all bitcoin barter operations Instead the aggregation will be absorption all of their absorption on the remittance bazaar Bitcoin can comedy an important role in the change of money remittance as we apperceive it and BitSpark feels it is the best administration for the aggregation at this point
Also read: BitSpark Brings Bitcoin Remittances to Indonesia
BitSpark Partners with BitGo And Closes Funding Round
At the alpha of April, BitSpark appear the closing of a acknowledged annular of funding. Several arresting Hong Kong-based investors had injected an bearding six-figure sum into the company, which would be acclimated to aggrandize appearance for both the barter and remittance platforms.
This acknowledged annular of allotment came on the heels of a Goldman Sachs 2025 Equity Research report, which accent BitSpark and their services. Furthermore, BitSpark COO Maxine Ryan was one of the speakers during February’s iFX Expo 2025 Hong Kong, talking about the aggregation and its abode in the B2B remittance sector.
BitSpark had additionally been alive on deepening their belvedere security, in ablaze of a cord of aegis breaches that occurred during Q1 of 2025. As a result, a partnership was formed with BitGo, one of the arch Bitcoin aegis providers to date. All Bitcoin wallet addresses were upgraded to multi-signature, which is, so far, one of the best important abstruse advancements in Bitcoin technology.
The affiliation amid BitSpark and BitGo additionally enabled the allowance adjoin annexation of agenda bill funds. Combining that “proof of insurance” with BitSpark’s absolute real-time affidavit of affluence technology fabricated this belvedere the world’s aboriginal crypto accounts account bringing top cleft aegis to the apple of Bitcoin.
Shutting Down Exchange, Focus on Remittance
Despite rolling out assorted new appearance on both platforms, there were several blow outages that bare to be addressed. Blow is one affair no barter belvedere — Bitcoin or contrarily — can afford. Those issues accept been addressed and resolved, and BitSpark users can login already again. However, both deposits and withdrawals accept been disabled.
On the added hand, BitSpark’s remittance account started demography off in countries such as Australia, Hong Kong, and Indonesia. When it comes to the accepted remittance industry, sending money beyond the apple is accountable to ample fees. Bitcoin could comedy an important role in afraid up this industry for the account of all the bodies about the world. But there is still a lot of assignment that needs to be done afore that becomes a reality.
Both of these facts resulted in the accommodation to shut bottomward the Bitcoin barter belvedere for the time being. The BitSpark aggregation is actual optimistic about this change of direction, and will put all of their efforts into architecture out the remittance service. In fact, the aggregation appear a new artefact prototype, which will be apparent after this month. No added capacity about this new artefact accept been appear at that time, added than the actuality it is accompanying to the remittance business.
Is BitSpark’s move a acceptable idea? Let us apperceive in the comments below!
Source: BitSpark Blog
Images address of International Diaspora Engagement Alliance and Shutterstock.
