Richmond's Center for Innovative Technology has invested in digital asset startup RoundlyX.
Richmond-based RoundlyX, formerly Coin Savage, aims to be the Mint.com of digital assets, giving customers a place to manage their bitcoin and other digital currencies---and invest responsibly.
Co-founder Andrew Elliott declined to disclose the raise amount but said the funds will be used to help RoundlyX scale its platform.
"We’ve gotten to a point where we’ve proven the concept, and now we’re looking to scale the platform internationally," he said. "We look and feel like a digital assets exchange platform, but we're really a partner to the Coinbases around the world, adding support for international exchanges and layering on our toolset for their users."
Elliott said the company has doubled its user base in 2020 thanks to a renewed interest in digital assets. That, he said, is why CIT didn't hesitate to invest.
"We’re very excited to find a partner that recognizes this massive opportunity. The emergence of a borderless asset class is not a small idea," he said. "As the digital asset market approaches $400 billion, it’s not really a new idea. Bitcoin is driving the entire class into mainstream adoption, and CIT recognized that we plan to be there for it."
