Roxom Global has secured investments totaling $17.9 million for two of its strategic projects. Specifically, $7.9 million will be allocated to the development of a bitcoin exchange, while another $10 million will go towards the Roxom TV broadcasting media platform.
This is reported by Finway
The funding for the bitcoin exchange includes contributions from investors such as Draper Associates, Borderless Capital, ego death, and Kingsway Capital. These funds will be used to create an exchange that offers a variety of financial products denominated in bitcoins, focusing on markets in Latin America, Europe, as well as select regions in Asia and the Middle East. However, the exchange will not be available to users in the United States.
Development of the Roxom TV Media Platform
Regarding the Roxom TV media platform, Roxom Global has raised an additional $10 million in a private round for its development. The project aims to become a 24/7 platform that covers bitcoin-related topics, providing news, broadcasts, entertainment content, and more. The platform has already created a bitcoin reserve of 84.72 BTC, of which 52.65 BTC were acquired during this round. In the near future, the studio intends to purchase an additional 30 BTC.
Expansion Plans
Roxom TV broadcasts are available on numerous platforms such as X, Rumble, Twitch, Kick, and Dlive. The company plans to expand its presence on LinkedIn, Facebook, TikTok, and Instagram. In addition to investments in bitcoin, part of the funds raised will be used to open a new broadcasting center in Hong Kong, alongside the existing ones in San Francisco and London.
As a reminder, the Incrypted editorial team regularly updates its digest on investment rounds in the Web3 sector.