On 12th February, a spokesperson for BitCar announced that the Global Fund AlphaBit was backing the Singapore-based Blockchain Startup.
\r\nBitCar revealed that AlphaBit, which was launched in 2017, has bought a huge number of BitCar tokens. The founders behind BitCar say they are holding a sale of tokens to pay for the creation of its Blockchain platform, which aims to enable digital currency to be attached to uncommon assets including rare and exotic cars. Liam Robertson, AlphaBit’s CEO, described the partnership as significant.
\r\nBitCar is developing a Blockchain platform where users can invest and trade tokens that signify rare assets, such as unusual cars. By tokenising rare cars, BitCar explained that it could create one of the most popular asset classes of the last 10 years. Charles Kilborn, BitCar executive, reiterated this point and said that BitCar want to be the main digital currency for the motor industry.
\r\nThis latest news comes after BitCar has revealed joint ventures with various crypto car traders such as Dadiani Syndicate and Moonlambos. Daniel Woodroof, a BitCar specialist commented that the United Arab Emirates is the perfect fit for the start up. He explained that interest regarding cryptocurrency and Blockchain is rife in this area and there are also huge amounts of luxury cars there.
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