Azteco Raises $6 Million in Financing to Accelerate Bitcoin Adoption
Azteco, a Santa Monica-based company, has secured $6 million in financing, with Jack Dorsey, CEO of Block Inc., leading the round. The company’s mission is to democratize finance by offering Bitcoin gift cards.
Azteco’s Mission: To Democratize Finance
Jack Dorsey supports Azteco because he believes in the company’s mission to make life easier for non-bankers worldwide. He sees Azteco as a step in the right direction towards positive change. Azteco aims to raise the value of Bitcoin by introducing Bitcoin gift cards, ultimately democratizing finance and establishing partnerships with companies worldwide.
Azteco’s solution replaces central control of traditional paper currencies with a computer program, allowing Bitcoin to act as a politically neutral global synthetic currency available to people all over the world. The company has approximately 600,000 batch locations in around 200 countries, which can have a significant impact, especially in the United States where around 4.5% of families lack bank accounts.
Dorsey’s Continued Support for Bitcoin
This financing round led by Dorsey demonstrates his ongoing commitment to the cryptocurrency space. In addition to this investment, Dorsey has pledged $5 million to support Bitcoin developers and actively promotes Web3 talent development in Africa through his involvement with the Btrust organization and the acquisition of Qala, a company focused on training African Bitcoin and Lightning Engineers.
The acquisition of Qala was motivated by the recognition that Btrust lacked the infrastructure to effectively nurture and develop African Bitcoin talent. This move is an important step in bridging the gap and enhancing the growth of the Web3 experience in Africa.
Additional Recommended Readings
For more information on related topics, you may also like:
- Cathie Wood’s $19.9 Million Investment in Jack Dorsey’s Block
- Dorsey-Supported Venture Aims to Decentralize the Internet with Web5 Project
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