India’s newest bitcoin startup, Bright Bar Kolkata (BBK), has been valued at over $7 million in a recent funding round led by the country’s top venture capital firm, Thrive Capital.
The startup’s vision is to create a bitcoin-like service that would enable bar owners to sell bitcoin directly to customers, rather than selling it on an exchange.
BBK has plans to launch a new bitcoin trading platform later this year, the company’s CEO, Kailash Kumar, told TechCrunch.
BBG’s bitcoin trading service will feature a “paywall” feature, Kumar said, to make sure customers aren’t getting ripped off.
Bitcoin can be traded in any number of ways, including through an exchange, but it has been increasingly targeted at criminals and fraudsters, who can then use bitcoin to launder funds.
This type of “bitcoin-like” business model is popular in the United States and Europe, where some bitcoin-related companies are making a name for themselves as “fintech” companies.
However, Kumar believes that bitcoin will be a better business model in India, where many bar owners don’t have a formal trading relationship with bitcoin exchanges.
“We have a problem with the current banking system,” Kumar said.
“The banks are not there.
There is a lack of regulation, so we need to solve that problem.”
The startup aims to offer a “Bitcoin for Bars” service, where bar owners can sell bitcoin for a fixed price, with no exchange fees.
This would mean that bar owners could use the platform to raise money for their businesses without needing to accept bitcoin directly.
Unlike some other startups, BBK will not be charging any transaction fees to customers.
BBB’s CEO said that the company will be open about the terms of the sale, and will use “frequent” payments to pay the bartenders.
The founders hope that the new service will allow them to make their own money and also help the community grow.
The company was founded in May, after Kumar was approached by a group of bar owners who wanted to start a bitcoin trading app, which he said they felt was lacking.
“A lot of these apps that have popped up in the last couple of years are a little bit old,” Kumar told Tech Crunch.
“Bitcoin is an emerging technology, and the market is growing, so it makes sense to look into the future.”
Kumar and his team plan to launch the new bitcoin-based trading platform in December, with plans to roll it out to the wider community.
He also believes that the launch of the new Bitcoin for Bars service will help improve the quality of life for many bar employees in the country.
The launch of a bitcoin service is a huge step forward for the Indian bitcoin community, as bitcoin is now available in a number of countries, and in some places, as a payment option.
“This is a really exciting time,” Kumar noted.
“I think we can create a big impact for the bitcoin ecosystem.”