Bitspark Ltd., a Hong Kong-based cryptofinancial services provider and pioneer of what it calls world's first end-to-end bitcoin-powered remittance service, has announced the completion of an external funding round as well as the launch of 100 percent multisignature reserves for the Bitspark Exchange platform in partnership
with Bitgo Inc.

Through a partnership agreement with Palo Alto, California-based BitGo, a bitcoin security platform, Bitspark can now offer 100 percent multisignature bitcoin reserves for all customer deposits at Bitspark, according to a press release. Bitspark said it is now the first exchange in Asia to support 100 percent multisignature security as a complement to its existing real-time proof of reserves technology. 

In addition, Bitspark has secured the support of prominent financial technology investors and executives in raising a six-figure sum funding round. Bitspark said it intends to use this funding to support the continued growth of the business, as well as as the rollout of even more innovative exchange, remittance and payment solutions.

"This has been a work in progress for many months now and I’m excited we can be here today announcing a new wave of funding as well as a partnership with BitGo," said Bitspark CEO George Harrap. "The closure of this funding round ensures that we have the support needed to continue to expand our service offerings. At the same time, multisig security is such a critical factor for any bitcoin-related company and BitGo have been very supportive throughout the process."