CALGARY, ALBERTA and PALO ALTO, CALIFORNIA--(Marketwired - Oct. 7, 2015) - Risk Management & Payment Processing specialist Vogogo Inc. ("Vogogo") (TSX VENTURE:VGO) today announced the expanded integration of its proprietary compliance, risk management and payment processing platform with DIGATRADE, a digital asset (Bitcoin) exchange, wholly-owned by Vancouver-based BIT-X FINANCIAL CORP. Vogogo also announced the integration and live activation of its platform with Australia's leading Bitcoin exchange, Bit Trade Australia (Bit Trade).
DIGATRADE™ Launches Global Card-based Transactions with Vogogo
The proprietary DIGATRADE™ trading platform, which is powered by technology from existing Vogogo client, Hong Kong-based ANX, already allows people from around the world to trade the cryptocurrencies Bitcoin, Dogecoin, Litecoin, Ripple, and Stellar for Canadian dollars and vice versa.
As a result of a broader integration with the Vogogo platform, DIGATRADE™ is now able to process customer deposits via credit cards globally including Canada, the United States the United Kingdom and all 28 countries in the European Union in local currencies.
Brad Moynes, CEO of DIGATRADE™ said "Enabling instant payment mechanisms such as USD deposits via credit cards is not only a competitive advantage for DIGATRADE™ but furthermore, it eliminates the delays and complexities traditionally experienced by customers wanting to purchase bitcoins via an online exchange venue."
"Vogogo has enjoyed a great working relationship with DIGATRADE™ and is pleased to be able to facilitate its expansion and enable it to offer highly competitive services to its client base such as global currency support." said Vogogo CEO, Geoff Gordon. "A key part of our ongoing business development strategy is to broaden our service offering with the many leading cryptocurrency groups we are already engaged with and this is a great early example of that endeavor."
Bit Trade Australia Launches in Canada
The integration of the Vogogo platform enables Bit Trade to launch its Canadian exchange, Bit Trade Canada, and begin on-boarding Canadian customers for its fixed rate exchange service. Canadians can now initiate accounts at Bit Trade using Interac and Electronic Funds Transfer (EFT).
Established in 2013 in Sydney, Australia, Bit Trade is the country's oldest and most established digital currency exchange with a total trading volume of more than AUD$26 million since its launch.
Vogogo expects to derive revenue from the integrations in line with its established business model.
About Vogogo Inc.
Vogogo is a TSX Venture Exchange ("TSXV") publicly traded risk management and payment services company. Founded in 2008, Vogogo designed, built and launched its automated risk management and payment processing technology while continuing to grow its expertise in software development, technology, banking, compliance, payments and transactional risk management. Vogogo is now executing on its plan to offer its services to key global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its experience, positioning and technology.
For further company information please view the Vogogo Media Kit
About BIT-X FINANCIAL CORP
Bit-X Financial Corp is a Vancouver; Canada based Company listed on the OTC.QB under the trading symbol BITXF. The Company owns and operates (https://digatrade.com/) a Digital Asset (Bitcoin) Exchange and Internet Financial Services Company. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission and in the United States with the Securities Exchange Commission.
About Bit Trade
Bit Trade Australia (BTA) was founded in April 2013 and is Australia's leading fixed rate Bitcoin exchange. BTA's CEO Ron Tucker is also Chairman of the Australian Digital Currency & Commerce Association and an active proponent of global standards and regulatory harmonization for digital currency and blockchain technologies.
BTA has recently diversified its service offering through the establishment of digital currency consultancy BTA Labs, which provides consulting services and solutions to the Australian financial services industry.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
None of the information contained on, or connected to, Vogogo's website is incorporated by reference herein.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Vogogo. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Vogogo. Vogogo does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws. See Vogogo's Annual Information Form for the year ended December 31st, 2014 and its Management's Discussion and Analysis for the three and six month periods ended June 30th, 2015 for a detailed discussion of risk factors.
Vogogo continues to enter into various arrangements with cryptocurrency exchanges and other payment processors, including DIGATRADE™ and Bit Trade in order to integrate Vogogo's technology with such entities. There is no certainty that such integrations will result in the generation of revenues as a result of any such arrangements.