Overstock.com Makes Investment In Barbados' FinTech Firm Bitt

Overstock.com, Inc. (NASDAQ:OSTK) announced a strategic investment in Bitt.com, a Barbados-based financial technology firm working to move island nations in that region to adopt digital national currencies. Overstock.com is investing $4 million in Bitt initially.

"A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked. Yet mobile penetration in some countries exceeds 100%. Bitt has a vision for the Caribbean of frictionless mobile cash, beginning with central banks transparently issuing digital fiat which is then exchanged on a blockchain (all under proper regulatory oversight, as with our t0 offering to Wall Street)," said Overstock.com CEO Dr. Patrick M. Byrne. "We respect and endorse that vision, and share a common desire to see online consensual exchange flourish globally. As they say around these parts, 'One love'."