PALO ALTO, CALIFORNIA and CALGARY, ALBERTA--(Marketwired - Sept. 25, 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 leading US cryptocurrency exchange Cryptsy.
Florida-based Cryptsy is the world's largest altcoin exchange with 260,000 registered users and a volume of over 300,000 trades per day across 200 different types of cryptocurrencies.
The Vogogo platform provides Cryptsy with full risk management, security, compliance and payment services enabling them to offer their users seamless exchange between cryptocurrencies and fiat currencies such as USD & CAD.
The ability to transact with conventional banking & payment systems has been a major hurdle for crypto businesses to date and is seen by many as critical to the widespread adoption and proliferation of Bitcoin and altcoins.
Vogogo CEO Geoff Gordon said of the announcement, "We're incredibly excited about rapidly growing crypto companies like Cryptsy understanding the value of Vogogo and wanting to work with us. We look forward to helping them enhance and expand their service offering across the globe."
Cryptsy Founder Paul Vernon said "We are excited to begin offering a method of payment which makes it secure and easy for our users to buy and sell crypto currencies in our fiat markets. We are certain our users will appreciate what Vogogo has put together."
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.
Cryptsy is an Internet startup operated by Project Investors, Inc. focusing on the exchange of the cryptocurrency commonly known as "Bitcoin" and its derivatives. Cryptsy currently services 200 different types of cryptocurrencies.
The Cryptsy.com exchange opened on May 20th, 2013 and since then has seen rapid growth in both customer base and trade volume. Cryptsy currently has over 260,000 registered users with a volume of over 300,000 trades per day.
Cryptsy is based in Delray Beach, Florida, USA.
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.
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.