Payment processing company Vogogo announced Friday that they had entered into an agreement that would see them integrate with ANXPro, a bitcoin company based in China. ANXPro will integrate with Vogogo’s payment processing and risk management platform, a move that would enable each to offer customers seamless transactions between bitcoin and fiat money in the US, Canada and the European Union. The integrated platform is expected to go live before March 2015.
Deal Solves Persistent Problem
This deal between ANXPro and Vogogo could be good news for crypto businesses that have had rather lukewarm relationships with banks around the world. One of the areas in which crypto businesses have wanted to work with banks is in enabling cross-currency transactions between bitcoin and fiat. The deal could, therefore, be considered as another step toward a more ubiquitous adoption of cryptocurrency around the world.
As we approach the holiday season, Vogogo announced that they would continue to test its platform in anticipation of the integration in 2015. Vogogo CEO Geoff Gordon said that he was excited to integrate the two platforms as part of his company’s expansion strategy, grow their business on a global level and facilitate seamless cross-currency transaction between crypto and fiat money. He added that it would enable the two companies focus their technology and build their businesses further.
On his part ANX CEO, Ken Lo, said that integrating Vogogo with his company’s services was going to enable ANX extend services to communities in the US and Canada. The integration would also enable his company ANX play another vital role, and that was one of lowering the barriers to bitcoin and other cryptocurrencies, by increasing the number of ways in which consumers would be able to acquire and access cryptocurrencies.
Background on the Companies in the Deal
Both companies have a background in enabling payment. Vogogo provides payment services that come integrated with risk management and compliance. ANXPro provides an easy, secure and affordable platform to transact bitcoin. It also offers a 24-hour online exchange that provides the automated matching of orders between its registered members.
The parent company (ANX, formerly known as Asia Nexgen) was established in July 2013 and were legally registered and based in Hong Kong. ANX has grown to be one of the most used Bitcoin exchange platforms, and it is now one of the top 6 largest Bitcoin exchanges in the world by volume.
ANX introduced the world’s first physical Bitcoin Retail store, the world’s 3rd Bitcoin ATM machine, a multi-currency online Bitcoin exchange platform, and mobile APPs for crypto currencies, as well as launched the world’s first globally usable Bitcoin Debit Card.
The deal also involves a third company called The Rock Trading. Born in 2007, The Rock Trading is a Maltese based exchange focused on digital currencies. It was one of the first digital currency exchanges in the World to make trading available with Bitcoin, starting in June 2011. The platform now also includes the Ripple protocol.
What do you think about Vogogo’s tear of integration with Bitcoin companies around the world? Comment below!
Images from Vogogo and Shutterstock.
Last modified: March 4, 2021 4:42 PM