Credit China FinTech Holdings Ltd and its subsidiaries entered into a US$30 million deal with bitcoin and private blockchain infrastructure provider BitFury Group.

Under the deal, the two companies will establish a joint venture focusing on the Chinese market. Credit China Fintech will also invest in shares of the San Francisco-based company, according to a Jan. 25 release.

The collaboration will allow the Chinese fintech company to maximize the adoption of bitcoin and private blockchain technology into its platforms.