itBit is a financial services company that offers a suite of bitcoin trading services, including a global bitcoin exchange and over-the-counter (OTC) trading desk. The company launched in November 2013. In May 2015, itBit received a trust charter from the New York State Department of Financial Services (DFS) and became the first company to operate a regulated bitcoin exchange in the United States. itBit received more than US$5 million in venture capital from Canaan Partners, RRE Ventures, Liberty City Ventures, and angel investors Jay W. Jordan II and Ben Davenport in their initial funding round. itBits Series A round raised $25 million from RRE Ventures, Liberty City Ventures and others.