Vogogo, a payment processing company with integrated risk management and compliance, is planning to integrate with ANXPro, a Chinese bitcoin company.
ANXPro will integrate with the payment processor and take advantage of its risk management platform, allowing both companies to offer transactions between bitcoin and a number of currencies in the US, Canada and European Union.
The integrated platform is expected to go live before March next year, Cryptocoinsnews reported.
Many crypto businesses have had problematic relationships with banks, especially when offering to work together to enable cross-currency transactions between bitcoin and fiat. But this new deal between Vogogo and ANXPro could tackle this problem.
ANX CEO Ken Lo said that the integration would allow his company to extend its services to companies in the US and Canada, and play a vital role in lowering the barriers to bitcoin and other crypto-currencies by easing access for consumers.
Vogogo CEO Geoff Gordon also sees the deal as part of a larger expansion strategy to grow his business globally.
Along with its bitcoin transaction platform, ANXPro offers a 24-hour online exchange that provides the automated matching of orders between its registered members. Its parent company ANX – formerly known as Asia Nexgen – has grown to be one of the top 6 largest bitcoin exchanges in the world.
The deal involves a third player called The Rock Trading, a Maltese based digital currency exchange. It was one of the first digital currency exchanges to make trading in bitcoin available in June 2011. Its platform now includes the Ripple protocol.
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