ForexMinute.com – Hong Kong-based Bitcoin exchange ANX recently acquired CoinMKT.com to push its presence into the US Bitcoin market.
Following the announcement, ANX became the official head of CoinMKT’s domain name and brand rights. The latter’s founders Travis Skweres and Ola Ajayi, meanwhile, decided to continue their professional role under the new banner.
ANX COO Dave Chapman admitted their plans to expand globally while speaking about their latest strategical partnership with CoinMKT. He explained how such business relationships can help them them set their foot into US markets by getting the much-needed Money Transmission Businesses (MTB) licenses throughout the country.
US Bitcoin Market is Expanding
It can only be a coincidence that ANX announcement came right after the launch of Lunar – the much hyped and US’s first licensed Bitcoin exchange. It is quite possible that other exchanges are moving fast in order to catch-up with market competition. In another report, celebrated internet entrepreneurs Winklevoss Twins also announced to launch a regulated and licensed Bitcoin exchange in the US.
ANX however has a reputation of acquiring. Before CoinMKT, the exchange had acquired a Norwegian Bitcoin company Justcoin. But in US, the best it can do to compete with Coinbase is to get the same licensed tag that allows customers protection against theft and money loss.