Kincoin, a Bitcoin-based cryptocurrency with a token called Kin that allows users to buy and sell items, has raised $10 million in Series A funding led by Kleiner Perkins Caufield & Byers.
The company said the money will go toward the development of new products, new partnerships, and more.
Kincoin will also begin to build out a user-friendly platform that will allow for Kin to be used as a “pay for” currency.
A new Kin coin, called Kin, is scheduled to launch on April 17, 2018.
Kin is a digital currency that allows buyers and sellers to exchange value for other currencies, but unlike traditional money, there is no centralized authority for issuing and managing coins.
Kin has received $100 million in funding, including $5 million from Kleiner.
It’s expected that Kin will start trading in the next few months.
Kin also said that the company will be expanding its payment network with new payments services and products.
The new products will help Kin users pay for goods and services in more ways than just buying or selling goods.
Kin was launched in 2017 by the San Francisco-based company Kleiner Ventures.
It is currently listed on Nasdaq under the ticker symbol “KLEIN”.
The company was founded in 2016 by Michael J. Casey, who has worked at prominent Silicon Valley firms like PayPal and Twitter.
The Kin coin launched in July 2018.