OpenCoin Fills Purse with New Funding

OpenCoin, the developer of a virtual currency and payments system, has raised seed funding from Andreessen Horowitz, Founders Fund, Lightspeed Venture Partners, Vast Ventures and Bitcoin Opportunity Fund. The San Francisco-based company is developing a protocol called Ripple, which enables free payments to merchants, consumers and developers; the ability to pay in any currency; no chargebacks; and instant global payments.

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