Share this article
Expresscoin Raises $150k in Funding from Bitcoin Shop
The new funding is the cryptocurrency-buying service's first since its formal launch earlier this year.
By Pete Rizzo
Updated Sep 11, 2021, 10:58 a.m. Published Jul 14, 2014, 3:25 p.m.
Digital currency-only online retail outlet Bitcoin Shop has announced a $150,000 investment in cryptocurrency-buying service expresscoin.
The announcement marks expresscoin's first investment since its formal launch in June. Previously operating under the brand Cash Into Coins, expresscoin is aiming to market bitcoin to underbanked consumers by accepting payment methods including money orders, personal checks and wire transfers.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
With the announcement, expresscoin will integrate its services with Bitcoin Shop to provide more ways for the website's e-commerce consumers to obtain digital currency.
Bitcoin Shop CEO Charles Allen indicated that the move is one that will expand his company's ability to cater to its customers, stating:
"Our planned integration with expresscoin is a natural progression to provide another key element in our cryptocurrency ecosystem to go along with our investment and relationship with GoCoin for financial transaction processing."
Expresscoin currently sells bitcoin, litecoin, dogecoin, blackcoin and darkcoin, while Bitcoin Shop accepts bitcoin, litecoin and dogecoin.
The Santa Monica-based company previously raised an undisclosed sum from an AngelList syndicate headed by Bitcoin Foundation board member Brock Pierce.
$1m investment option
Bitcoin Shop further indicated that the investment comes in the form of a $150,000 promissory note that values expresscoin at $9m using a pre-money valuation. The note also gives Bitcoin Shop the option to invest an additional $1m in expresscoin before 24th October of this year.
Bitcoin Shop provided additional details about how such an investment could be carried out, suggesting that such a transaction could take place in bitcoin.
The announcement read:
"If exercised in full, the Option will allow the Company to own approximately 13% of ET [Express Technologies, Inc.]. The Company may exercise its Option in bitcoins in lieu of USD."
Bitcoin Shop estimates its investment provides the company with a 2% stake in expresscoin at its current valuation.
Increasing shareholder sentiment
While providing a new way for expresscoin to reach consumers, Bitcoin Shop suggested the move will have benefits for, not only its customers, but its shareholders too. Bitcoin Shop announced its decision to go public in February, and has traded over the counter since that time.
Bitcoin Shop framed the move as one that would give investors another reason to consider investing funds in its operations.
The company said: "By investing in ET, Bitcoin Shop not only continues to enhance their service offerings, but also adds a key differentiation strategy for their shareholders by providing indirect exposure to other key service providers in the cryptocurrency industry".
Bitcoin Shop CEO Charles Allen will speak at the North American Bitcoin Conference in Chicago this weekend.
Image via Bitcoin Shop
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
Coinbase Reopens India Signups, Targets Fiat On-Ramp in 2026 After Two-Year Freeze
Coinbase halted services entirely in 2023, off-boarded millions of Indian users and shuttered local access while reassessing regulatory exposure.
What to know:
- Coinbase has resumed onboarding users in India, marking its return to the market after a two-year hiatus due to regulatory issues.
- The exchange is currently allowing crypto-to-crypto trading and plans to reintroduce fiat on-ramps next year.
- Despite regulatory challenges, Coinbase is investing in India, including increasing its stake in local exchange CoinDCX.
Top Stories
