According to Coindesk.com, CoinText.io, a blockchain startup developing a way to conduct offline bitcoin cash transactions, just closed a $600,000 seed funding round. Setting up a cryptocurrency wallet might become as easy as sending a text to your mom.
The funding round will be used to develop a mobile wallet which can support bitcoin cash transactions conducted via text messages, without requiring either internet access or wallet addresses, according to a press release.
The startup's CTO, Vin Armani, said in a statement:
"We are dedicated to making cryptocurrency easy to use for the maximum number of people. Yeoman's team brings valuable experience to our mission to deliver useful tools that spread bitcoin adoption far and wide."
Coindesk.com further reports that CoinText currently provides services in eight countries, including the United States, Canada, the UK, Australia, and South Africa. The company aims to provide 70 percent of the world's population with access to cryptocurrencies using text messages by the end of 2018, according to the statement.