As Vogogo want to continue to test and scale its payment processing and risk management platform through the remainder of Q4, 2014 and anticipates reaching commercial trading volumes in Q1, 2015, it has entered into a partnership with Bitcoin exchanges QuadrigaCX and BitMEX. The company aims to further expand its reach partnering other BTC exchanges.
Showing his happiness about the decision and the development, Vogogo CEO Geoff Gordon said that integrating cutting edge Crypto exchanges such as QuadrigaCX and BitMEX is another significant step in their established growth strategy. Thus, it looks; it has always been part of his strategy to bring in Bitcoin into the fold.
Customers will be Able to Transact Seamlessly
He also added that the decision to partner with the two Bitcoin exchanges is another validation of the value new and innovative Crypto exchanges are placing in the Vogogo platform to help them access and transact seamlessly with traditional banking networks. There is a lot of scope for Bitcoin among people who are not covered by the traditional banking networks.
Talking to press Gerald Cotten, Founder & CEO of QuadrigaCX said that he looks forward to working with Vogogo and integrating their innovative payment solutions with the QuadrigaCX Bitcoin trading platform. He also added that with Vogogo’s experience in processing payments for the cryptocurrency industry, he will be able to provide expedient services.
According to Mr. Cotten, the partnership and the solution the two companies are offering is going to simplify and expedite the funding and withdrawal process for the clients. Similar views were shared by BitMEX Co-founder and CEO, Arthur Hayes who admitted that partnering with Vogogo will allow BitMEX to offer fiat margined contracts.
The Partnership for customers in Canada and the US
Arthur Hayes also admitted that the partnership is going to help it expand the sophntracts, and expand the sophistication and breadth of their product offerings. The Hong Kong-based BitMEX is the only centrally cleared Bitcoin derivatives exchange. It offers commercial hedgers, Bitcoin miners, and professional investors and traders the ability to exchange Bitcoin risk.
According to the announcement, both exchanges e.g. BitMEX and QuadrigaCX will integrate with Vogogo’s payment processing and risk management platform. This will enable each to offer users of their respective platforms seamless transactions between Bitcoin and fiat currencies in the US and Canada. By the Q1, 2015, even EU will be covered.
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