This new partnership will give Vogogo the ability to significantly expand the services they offer within the US while creating a nurturing banking environment for digital currency companies.
Also read: Shopify Partners with GoCoin
In their press release, Knox Payments President expressed his enthusiasm at entering the Bitcoin space:
We are very excited to be working with Vogogo and together look forward to aggressively entering a market that is already substantial yet still in its infancy.
Vogogo provides clients with online payment services, and risk management and compliance tools. Gordon believes that the partnership will allow Vogogo to push their US launch by two-four weeks in advance. Knox Payments is very interested in the digital currency industry and seeks to enable better cost efficiency in digital currency transactions. Knox Payments CMO Charles Merritt is personally optimistic about Bitcoin and the partnership with Vogogo, saying that: “Cryptocurrency is the outcome of some very large developments in technology and shifts in how we think about money as a store of value and our hope with Vogogo is to understand a little bit about how that market works.”
In addition to the expedited US launch of Vogogo, the partnership between the two companies will allow significant growth in the digital currency sector, making it easier for US based companies to follow all rules and regulations, and successfully manage risk. Many large banks treat digital currency companies as high-risk clients. Many banks currently don’t want to any business with digital currency companies; Vogogo will make it much easier for digital currency companies in the US to bank than ever before. As Vogogo grows, it will be able to provide services to more companies, thus making it easier to start and successfully maintain a digital currency company in the US.
What do you think about the partnership between Vogogo and Knox Payments? Comment below!
Images via Vogogo and Shutterstock
Last modified (UTC): October 31, 2014 00:39