NEM Ventures backs crypto payments startup Cyclebit

NEM Ventures, the venture capital arm of the NEM blockchain ecosystem, has made an undisclosed investment in Cyclebit, which partners with retailers to install PoS terminals that allow consumers to pay in crypto.

Dave Hodgson, Director and Co-founder, NEM Ventures, says: “Cyclebit is already an established player in the crypto and fiat payments space, and we are thrilled to make a strategic investment in this project at a time of major growth for the organisation. With an existing global presence and the potential to help bring crypto to the mainstream, we are aligned in our vision to bring crypto to mass adoption.”

Sameer Pirani, CEO at Cyclebit, comments: “This investment makes it possible to continue scaling our PoS terminals globally and we can’t wait to continue diversifying our user base with a major industry player by our side.”

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