Vogogo Inc., a risk management and payment processing company, announced the integration of its proprietary compliance, risk management, and payment platform with Bitstamp, one of the largest Bitcoin exchanges in the world.
Founded in 2008, Vogogo designed, built, and launched its web-based payment processing technology while growing its expertise in software development, payments, risk management, compliance and related financial services. Vogogo is now executing its plan to serve global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its positioning and technology.
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:
“Bitstamp is a world renowned crypto exchange and an industry leader. We are honoured 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.”
Vogogo has been around for approximately 13 years; in the last 10 months the company has processed $75 million in payments from its Calgary headquarters. Vogogo recently raised $8.5 million to help bring their expertise in payments and cryptocurrency to the U.S.
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.”
Vogogo provides a custom-made service for each customer and, thanks to their cross-border skills, they can make it easier for large web-based business to accept BTC along with credit cards and other currencies.
The company has been watching Bitcoin and cryptocurrencies closely. As a payments company, Vogogo was very intrigued by the potential of Bitcoin. The company closely watched several crypto groups enter the Canadian market and have a lot of success, only to be shut down by banks due to accusations of payment-related fraud or a lack of compliance. The Vogogo platform came to provide the crypto groups a stable service and is certainly bound to further facilitate the access to bitcoin.
The company is now adjusting the scale to go worldwide and hopes that this partnership can help to leverage the bitcoin economy.
What do you think this new partnership can do for bitcoin? Leave us your opinion on the comments below!
Nuno Menezes is a Portuguese Bitcoin Entrepreneur and a crypto currency’s enthusiast supporting the Bitcoin Portuguese Community. He is an Anthropologist and a Writer and his current field of work is virtual currencies. Complementing his Social Sciences Master degree with a Professional background in telecommunications along some experience in Computer Science, he intends to bring knowledge and understanding about the impact of crypto currencies in society.
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