While Bitcoin‘s value increased by 148% over the last 30 days and by 800% over the last 6 months on Mt.Gox according to bitcoinity.org, a statup company called Bitwal is working toward making the virtual currency widely accepted in the real world.
The company, which successfully completed a $50,000 equity offering with one investor, is working toward launching a debit card for Bitcoin. The card is linked to an account where users can load their Bitcoins. Once loaded the card can be scanned to transfer payments, used as a debit card to withdraw money at ATMs, or processed by non-Bitwal participating retailers. It is unclear however, how the company will deal with Bitcoin’s recent wild valuation swings which may affect its broad acceptance. Hopefully the card will be able to be loaded on Coin as well.
The company, headquartered in San Francisco CA, was founded in August 2013. The executive team includes Carl Hilsz, Brian Santos, and Lowell Ness.
Amount offered: $50,000
Amount placed: $50,000
First Sale: 11/22/13