New Zealand Government Gives $330,000 Grant to Bitcoin Startup, Vimba

Vimba

New Zealand Government Gives $330,000 Grant to Bitcoin Startup, Vimba

Vimba

Vimba, an Auckland-based cryptocurrency savings and trading platform has gotten a $330,000 grant from a government entity Callaghan Innovation.

Vimba CEO Sam Blackmore commended Callaghan Innovation for its belief in the startup.

Sam Blackmore in a press release said: “This is a truly significant investment from Callaghan Innovation and a real show of faith in the future of this very exciting asset class,”

Formerly known as MyCryptoSaver which was Founded in 2014 by a duo of kiwi bitcoin enthusiasts, the rebranding reflected the broad range of services offered by Vimba.

Vimba currently enables users to use the New Zealand dollars in purchasing bitcoin or Ethereum. On the process of talking about plans of expanding the range of services being offered, Blackmore noted that the company was considering the prospects of “expanding the range of cryptocurrencies.”

There existed a feeling of disappointment among many traders following Bitcoin’s significant depreciation from almost US$20,000 in mid-December to an amount below US$6,000.

However, Blackmore urged people not to feel discouraged by the recent volatility.

He said: “We believe Bitcoin will at least reach the market cap of gold as it is more efficient, more accessible, more secure version of that rare asset. For it to reach the market cap of gold, one Bitcoin would be worth around $600,000 – more than 60 times what it’s worth today,”

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