BTC China, a Bitcoin trading platform, announced $5 million of Series A financing from investors including LightSpeed. The investment will be used to improve platform security as well as related products and services, according to Bobby Lee, founder of the company.

BTC China has overtaken Mt.Gox and BitStamp to become the largest Bitcoin trading platform in terms of turnover, according to statistics from Bitcoinity.org. The daily turnover of BTC China is nearing 90,000 Bitcoins or more than 200 million yuan.

Ron Cao, chairman of LightSpeed China Partners, said that they invested in the company because they are bullish on the potentials of Bitcoin market and the excellent team of BTC China.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.