The founder and CEO of Bittrex crypto exchange Bill Shihara has joined the Board of Directors for Seattle-based blockchain startup StormX after an undisclosed investment.
StormX announced in a statement that the addition of Shihara to the board comes after the CEO invested “an undisclosed sum” in the company’s latest equity round.
Incidentally, Shihara is already an angel investor for the startup, which was originally founded in 2015 as Bitmaker and reportedly acted as one of its ICO advisors.
StormX CEO Simon Yu said that Shihara’s knowledge and experience with Bittrex will come in handy. It is also one of the reasons to be optimistic. Yu said the Bittrex CEO’s “strategic advice and connections” could help fuel growth at the blockchain company in the years ahead.
StormShop service gives users crypto rewards
StormX has a dedicated StormShop service which gives users crypto rewards when they buy from over 500 partner stores, including eBay, Microsoft, Walmart, Target, Samsung, and GameStop.
Users have the option of getting cryptocurrency back in the form of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) or Dai (DAI) after making the purchase.
According to StormX, those who choose to make purchases with the platform’s native token STMX — which they can earn by doing jobs through StormX’s microtasks platform — get “additional perks” including “up to 87.5%” crypto cashback.
The company said that nearly 200,000 people have signed up since March, when StormX began offering new services for iOS and Android users. STMX has a market capitalization of $13.2 million and is priced at $0.0019, a nearly 50% drop since mid-June.