ANX said they were able to migrate the Justcoin platform in less than a week with the ANX proprietary trading engine and “white-label capabilities.” Hugh Madden, chief technical officer of ANX, explained the reasoning for the acquisition in a press release, highlighting the need to expand ANX’s global footprint.
“We have long recognized the vital role Europe has in the global cryptocurrency marketplace. The addition of Justcoin to the ANX portfolio of companies will broaden our global footprint and significantly increase our customer base. ANX can now provide direct local services such as Bitcoin debit cards to our clients in Europe. We are really excited about this.”
After being dropped by their bank, Justcoin planned to gracefully exit their business and fizzle away, only leaving a glimmer of hope for a return. When things looked to be darkest, co-founder Andreas Brekken alluded to the future and their talks behind closed doors. He said that they were talking to exchanges and bitcoin celebrities while evaluating all of their options.
“We as a team have a lot to offer and we are very dedicated to the community. We would prefer a solution where we join up with somebody else and say ‘hey, we’ve got the technology, we have a great brand, and we really believe that we can move this community forward together.’”
According to ANX, Justcoin plans to continue to operate under the same brand utilizing ANX technology. Any existing clients of Justcoin will also continue to be able to trade Ripples and Stellar along with Bitcoin, Dogecoin, Litecoin and 10 major fiat currencies.
What do you think of Justcoin’s return? Comment below!
Images from ANX and Shutterstock.
Last modified: July 13, 2020 3:19 AM UTC