OrchidCoin, the first and only privately-held cryptocurrency, is set to launch its Series A funding round today, according to a statement posted to its website.
The company is aiming to raise $1 million, the statement said.
The funds will be used to develop the product, scale up its product, and build out its distribution network.
The Series A round will be led by Angel Investor, a venture capital firm led by Michael Wiesner, the former CEO of digital currency exchange Mt.
Wiesnner was also the CEO of bitcoin exchange BTC-e.
“OrchidCoin’s unique technology platform and network of experts will allow the Orchid team to reach new markets with faster and lower costs than traditional payment solutions,” the company said.
Orchidcoin is currently valued at $1,200.
Orphancoin is not currently trading on the CoinMarketCap website, but its market capitalization is estimated at $2.1 million.
The cryptocurrency is currently on the Ethereum blockchain, and has been available on the blockchain for about a year.
Orchardcoin is launching in a new cryptocurrency called Orchid, which is currently in development.
Oraclize is an Australian company that developed the Oraclizer technology for cryptocurrencies.
Orachs coin is also an Australian cryptocurrency.
Orchidcoin and Oraclizers coin is listed on the OTC Markets in the UK.
Coinbase is also launching Oraclization.
The announcement comes after Orchid and Orchids coin announced a partnership earlier this month with the US-based Orchid Ventures to develop a blockchain-based, open-source platform for Orchid coins supply chain and distribution.
Orchidcoin is also developing an app that will allow people to trade Orchus.
The company’s founder and CEO, David Abrash, said in the announcement: “We believe Orchid is the future of cryptocurrencies and a leading contender for the future.”