Satoshi Citadel Industries (SCI), a payment service developer, has acquired a New York-based bitcoin startup Keza, closed in April 2016, to launch a user-friendly cryptocurrency investment application.

The mobile application was created by Keza earlier this year for bitcoin holders who wanted to invest in stocks and fixed income securities. The service operated worldwide outside the US. It was speculated that the reason for the closure of the service could be a violation of the US Securities and Exchange Commission rules.

In April 2016 Keza announced the closure of the project, which was at the stage of beta testing, despite the initial funding of $357,000 from Boost VC and Digital Currency Group.

“A few months later, we got an email from Keza saying that, for reasons known only to them, they were shutting down and needed a bitcoin address to send our deposits back. We immediately went to talking to their team. We then convinced them that SCI would make a great home for the product and that it would fit well in our mission and vision to build a bitcoin ecosystem. After a couple of weeks of negotiations and communication, we agreed to acquire Keza,” says SCI in its blog.

The company SCI is building a bitcoin ecosystem in the Philippines. It creates services that reduce the cost cryptocurrency transfer. The team previously launched such applications as Rebit.ph - bitcoin remittance service, mobile wallet Bitbit.cash and a prepaid bitcoin card service PrepaidBitcoin.ph.

Lena Gabdullina