The rumors are true: Moolah to take over MintPal

Altcoin exchange MintPal is to be taken over by Moopay Ltd, operator of Moolah. The agreement between the two parties will be signed this week, and the transaction will close in August.

Like MintPal, Moolah is UK-based and offers crypto exchange services, which include coin-to-fiat trading. The site also says that it helps merchants accept several digital currencies for Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and have them converted to fiat.

With the deal, Moolah will separately focus on its coin-fiat trading business while designating MintPal as the destination for altcoin trading.

While not mentioned explicitly, the recent hacking and theft of $2 million of Vericoin is likely to have been a factor. The vericoins were not stored offline, which made them easy pickings for the attacker. As part of the takeover, Moolah will be revamping MintPal's security procedures and implementing both internal and external audits. Alex Green, CEO of Moopay Ltd, commented:

“We reached out to MintPal as we believed that we could restore confidence in the exchange by bringing our experience and expertises to the table. MintPal has a solid Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term with a user interface that is second to none, and we intend to again make it one of the foremost altcoin trading platforms, with an increased focus on security and performance.”

Coincidentally, Moolah also recently added Vericoin for trading, about a week and half prior to the theft on MintPal.

With the takeover, MintPal and Moolah have announced several new initiatives. MintPal will soon provide 24/7 customer support. They also plan on launching a high performance "no frills" desktop trading application. Moolah plans on adding CAD, GBP, AUD and EUR to its existing USD-based trading.