Share this article
Overstock's Medici Ventures Invests $8M in Blockchain Firm Bitt
Medici Ventures has completed a third equity purchase in Barbados-based Bitt, bringing it a controlling interest in the blockchain firm.
Updated May 9, 2023, 3:12 a.m. Published Oct 28, 2020, 1:46 p.m.
Medici Ventures has completed an $8 million equity purchase in Barbados-based Bitt, bringing it a controlling interest in the blockchain firm.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Medici's latest investment will help it chase market opportunities around the adoption of digital currencies in developing countries, the Overstock subsidiary said in an announcement Wednesday.
“Bitt’s pioneering work in the central bank digital currency space promotes social inclusion, financial empowerment and economic growth," said Overstock CEO and Medici Ventures President Jonathan Johnson. "It is the perfect use case for blockchain technology."
With its controlling interest in Bitt, Medici indicated it aims to help support Bitt's bid to accelerate central bank digital currency growth.
The equity investment follows a $4 million purchase in 2016 and another in 2018 for $3 million.
Bitt was founded in 2013 and sets out to provide the infrastructure to "support a digital financial ecosystem throughout the Caribbean."
Last March, Bitt inked a deal with the Eastern Caribbean Central Bank to pilot a "securely minted" and issued digital version of the Eastern Caribbean dollar designed to be distributed across the region.
The Caribbean dollar is being designed to facilitate peer-to-peer transactions between merchants and consumers using smartphones.
Bitt will remain in Barbados following the deal, while its president, Brian Popelka, will also become the blockchain firm's new CEO.
See also: Central Bank of Bahamas Launches Landmark ‘Sand Dollar’ Digital Currency
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
