PALO ALTO, CALIFORNIA and CALGARY, ALBERTA--(Marketwired - Sept. 30, 2014) - Payment Processing specialist Vogogo Inc. ("Vogogo") (TSX VENTURE:VGO) today announced the contract and integration of its proprietary compliance, risk management and payment processing platform with online Bitcoin trading platform CoinTrader.
CoinTrader is a leading North American Bitcoin exchange, one of the top three Bitcoin exchanges in Canada by volume in BTC and ranked in the top 6 on BitcoinAverage.com by volume in USD. CoinTrader is also responsible for the installation of the world's first Bitcoin ATM in Vancouver, Canada. This original machine continues to be the busiest Robocoin ATM in the world.
CoinTrader now also operates Bitcoin ATMs in the UK, Romania, Japan & Singapore and, due to their API having multiple elements designed specifically with ATM operators and brokers in mind, has become a popular exchange partner for other ATM operators.
CoinTrader is also currently developing a multi-currency order book, which will enable the exchange to support USD/BTC, GBP/BTC, EUR/BTC, and CAD/BTC.
Vogogo will provide CoinTrader with full risk management, security, compliance and payment services enabling their users to experience seamless transactions between Bitcoin and fiat currencies such as USD & CAD.
Vogogo CEO Geoff Gordon said of the announcement, "Having CoinTrader integrate with us is another significant endorsement of the value our platform has for those in the cryptocurrency space. We are currently experiencing unprecedented demand for the risk management and payment processing our platform provides. We will continue to scale up our business by engaging and integrating with the industry's leading players."
CoinTrader Co-Founder Jackson Warren said, "We are thrilled to be working with Vogogo. Their platform gives us the ability to offer our customers a fast, secure, and incredibly simple payment option. This partnership will allow CoinTrader to provide some of the most convenient funding options in the digital currency industry."
Vogogo is a TSX Venture Exchange ("TSXV") publicly traded payment services company with expertise in software development. Founded in 2008, Vogogo designed, built and launched a web-based payment processing technology while growing its expertise in software development, payments, risk management, and related financial services. Vogogo developed the technology to support multiple electronic payment types for both the U.S. and Canadian markets. The platform started out with successful integration into several large web based (e-commerce) businesses. To date, Vogogo has successfully processed more than $1B in U.S. and Canadian payments and the software is praised by its users for its simplicity, efficiency and ease of use.
Maintaining the original principles of offering payment and financial solutions that are easy, effective and efficient, Vogogo intends to execute on its plan to sell to global markets. The plan focuses on niche market opportunities where Vogogo believes it has a competitive advantage due to its technology.
With a full portfolio of payment and financial services secured by risk management technology, Vogogo is poised to be a competitive full-service payments and financial services provider in global markets.
For further company information please view the Vogogo Media Kit
CoinTrader.net is an online trading platform for the Bitcoin community. They facilitate the trade of bitcoins (BTC or XBT) for traditional currency (CAD, USD, etc). They are a registered Canadian corporation, compliant with Canadian and International regulations. Security, low-cost, and usability drive them to create the best bitcoin exchange on the market.
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
Except for the statements of historical fact contained herein, certain information presented herein constitutes "forward-looking statements". The forward-looking statements contained in this document are solely opinions and forecasts which are uncertain and subject to risks. Forward-looking statements include but are not limited to uncertainties and other factors which may cause the actual results, performance or achievements of Vogogo to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties. Accordingly, readers are cautioned that the assumption used in the preparation of the forward-looking statements, although considered reasonable at the time of preparation may prove to be imprecise and, as such undue reliance should not be placed on forward-looking statements.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, Vogogo disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Vogogo undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.
Third Party Information
Certain information contained in this press release is based upon information from press releases, independent industry and other publications and websites. None of these sources have provided any form of consultation, advice or counsel regarding any aspect of, or is in any way whatsoever associated with Vogogo. Actual outcomes may vary materially from those forecast in such press releases, reports or publications, and the prospect for material variation can be expected to increase as the length of the forecast period increases. While Vogogo believes this data and information to be reliable, such data and information is subject to variations and cannot be verified with complete certainty. Vogogo has not independently verified any of the data or information from third party sources referred to in this press release or ascertained the underlying assumptions relied upon by such sources.