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Bitcoin

Bitcoin, released to the world in 2009 by a person or people called Satoshi Nakamoto, is not backed by a central bank or a government and is seen as an alternative payment system. In February 2013, Bitcoin went into the mainstream as a monetary crisis threatened to bankrupt Cyprus, seen as a safer bet. Early adopters of Bitcoin have been richly rewarded as the price has soared – in one case, a young Norwegian bought a house from an $850,000 windfall on a US$22 investment.

The platform, backed by IDG Capital, Goldman Sachs and Baidu, will focus on helping Asia institutions trade digital tokens

US virtual currency trader Circle plans expansion in Asia

US cryptocurrency trading platform Circle, backed by IDG Capital Partners, Goldman Sachs and internet giant Baidu, is expanding to Asia, launching over-the-counter digital currency trading services to institutional investors such as hedge funds and fund managers.