Europe-based bitcoin exchange Bitstamp has partnered with Vogogo, a Canada-based payments processing provider, to help with its ambitions for global expansion.
Vogogo has been steadily adding several bitcoin exchanges, based both in Canada and internationally, to its list of supported clients. The company supplies payment processing services tailored for crypto exchanges, serving as an intermediary between them and a Canadian banking system that has been difficult for its clients to deal with directly.
Also integrated into its solution are compliance and risk management features.
How to Trade In a Volatile MarketGo to article >>
The partnership is expected to help Bitstamp gain a foothold in both the US and Canada. Said BitStamp CEO Nejc Kodric:
“They [Vogogo] allow us to reach more customers while also giving all of our customers the ability to explore a revolutionary new technology in a safe and compliant manner.”
Bitstamp’s Canadian ambitions come at a time of apparent recovery in the country’s crypto exchange segment. Two exchanges, CAVIRTEX and Vault of Satoshi, had announced plans to shut down earlier this year. CAVIRTEX, however, was revived by US-based Coinsetter. Two other local exchanges, QuadrigaCX and CoinTrader, have also announced plans to go public. Both are supported by Vogogo.
Vogogo itself is publicly traded on the TSX Venture Exchange (CVE), its total valuation currently $107 million (CAD).