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Overstock.com invests in Caribbean financial technology firm

Overstock.comInc. is making a strategic investment in Caribbean-based financialtechnology firm Bitt.com.

The U.S. online retailer said April 1 that it will initiallyinvest $4 million in Bitt, which plans to use the proceeds to build a financialecosystem in the Caribbean that remedies the issues which people in the regionexperience daily, including high frictional fees from banks and other moneyservices operations that make sending money in and out of the region cumbersomeand costly.