In an announcement, CoinJelly says that it will launch two exchanges for high-volume traders. The company, a Bitcoin wallet and platform where customers can transact safely with Bitcoin, without the worry of online security threats, says that the first exchange will be aimed for the Southern Hemisphere and the second for the Northern.
CoinJelly has carved a niche for its insured Bitcoin ecosystem for which it is cooperating with the Swiss Zurich Insurance Group and promises to provide cover against loss for up to AU$20m (UD$18.73m), or up to 20 BTC per customer. Now the company says that with the two exchanges customers in 160 countries can open accounts.
According to CEO and founder Ashley King the major focus of his company is to provide security, compliance and transparency so that it can build trust with those yet to adopt Bitcoin who might have been put off by high-profile failures in the past. The company says that it will also be providing ATM/debit cards for customers to easily cash out their Bitcoins.
Customers Can Withdraw Cash at Over Two Million ATMs
The ATM or debit cards from the company are aimed primarily at travelers as an affordable and easy way to transfer funds into local currency worldwide. The company is in the process of finalizing merchant accounts and for that it recently purchased some of the related merchant connection code from defunct Cypriot ‘Bitcoin bank’ and debit card network Neo & Bee.
Customers just won’t be able to buy cards from CoinJelly’s site but also load the cards with Bitcoins. Also, they can spend the fiat amounts on the cards like any other bank debit card and withdraw cash at over two million ATMs worldwide. In the announcement the company says a limited-edition black-colored card will be available to the first 500 customers.
Safe and Secure Wallet
The company says that as it needed somewhere secure where customers could safely store their coins online and be able to send them at a second’s notice, it decided there was just one way to make sure we got it right – build its own. Now, this wallet provider says that it has implemented a number of bank-level passive and active safety measures.
These measures include strong encryption, offline back up and two-factor authentication, leaving customers’ wallets far less vulnerable to attack. The insured wallet from the company offers an intrusion alarm system, which identifies possible malicious activity and reacts automatically to head off fraud and attack.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org