What is "itbit"

itBit is a New York fintech company that develops blockchain technology for asset trading and operates a bitcoin exchange. itBit's Bankchain™ product is a private distributed ledger built for integration in established financial services companies.

The company is headquartered in New York City with an international office in Singapore.

The company received more than US$5 million in venture capital from Canaan Partners, RRE Ventures, Liberty City Ventures, and angel investors Jay W. Jordan II and Ben Davenport in their initial funding round. itBit's Series A round raised $25 million from PRE Venture, Liberty City Venture, and others.

In May 2015, it was the first bitcoin exchange to become a trust company, receiving a charter from the New York State Department of Financial Services.