TSX Venture Exchange listed Vogogo Inc. will integrate its proprietary compliance, risk management and payment processing platform with leading bitcoin exchange Bitstamp.
European-based Bitstamp is currently one of the largest Bitcoin exchanges in the world. The Vogogo platform provides Bitstamp with risk management and payment processing services to support Bitstamp’s clients as they exchange between fiat currencies and Bitcoin. Vogogo is working with Bitstamp on several global initiatives and is now actively supporting Bitstamp’s expansion into the U.S. and Canadian markets, as well as enhancing the exchange’s European service offerings.
Vogogo CEO Geoff Gordon commented on the partnership:
Bitstamp is a world renowned crypto exchange and an industry leader. We are honored to be working with the Bitstamp team and to play our part in enabling and accelerating their global growth. We will continue to provide safe and compliant access to global banking and payment networks allowing Bitstamp to focus on being the very best at their business and a continued leader in the crypto industry.
BitStamp CEO Nejc Kodric said:
We are thrilled to be working with Vogogo. They 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.
Founded by Kodrič and COO Damijan Merlak, Bitstamp received $10 million in funding from venture capital firm Pantera Capital. Dan Morehead, Pantera’s CEO, is Chairman of Bitstamp’s Board of Directors.
In August 2014, Vogogo closed a $8.5 million funding round the included Canaccord, Genuity Corp, Beacon Securities, Clarus Securities, Salman Partners, and Cormark Securities Inc. among its investors.