Canadians can also buy bitcoin using a credit or debit card. 247exchange is owned by InterMoney Exchange, which is registered under different names in Belize (InterMoney Exchange Corp.), the U.K. (InterMoney Exchange UK Ltd.) and the U.S. (InterMoney Exchange Inc.).
The company does not serve customers in the U.S.
“We are very excited to spread our activity to the Canadian market,” said Anton Vereshchagin, founder of 247exchange. “Certainly it will be one of the most important directions for us. Bitcoin users in Canada, especially the newbies, need easy, safe and instant way to convert CAD to crypto and vice versa. We are proud to provide them such opportunity.”
247exchange utilizes Vogogo, a Calgary, Canada-based payment processor and security provider, for payment processing. Customers can use Interac Online, a Toronto-based online payment service, direct debit and Canadian bank checks to purchase bitcoins.
247exchange’s partnership with MoneyPolo — a money services provider active in Czech Republic, Germany, Mongolia, Philippines, Slovakia, Sweden, the United Kingdom and Vietnam – allows customers to make cross-border payments and purchases using bitcoins and cash.
247exchange customers can withdraw currency using a credit or debit card, direct debit, instant money transfer or SWIFT transfer. Withdrawals can be made to any Canadian bank account.
Also read: Kraken launches across Canada with Vogogo
According to its website, InterMoney Exchange Corp. is approved by regulators to carry any exchange operations with digital or fiat currencies. This license requires the company to keep deposited with a bank in Belize the minimum paid up and unimpaired capital of $75,000.
247exchange reported in February that it has 50,000 users.
Images from 247exchange and Shutterstock.