According to RealMoneyAsia, Singapore-based Bitcoin exchange BitX has partnered with payments gateway CodaPayments to offer Bitcoin payments across Southeast Asia.
BitX had recently collaborated with the local payments gateway company in order to serve the unbanked and the underserved population of Southeast Asia. The Bitcoin exchange will provide instant currency conversion services at PoS to mitigate the Bitcoin volatility risks for merchants.
Coda Payments which caters to markets such as Indonesia, Malaysia, Philippines, Thailand, Vietnam and Singapore, boasts of customers in excess of 500 million.
The Singaporean exchange has openly expressed their affection for emerging economies because of high-growth potential. In July, the company raised US$4 million in Series A funding round from multimedia and internet services giant Naspers.
BitX CEO Marcus Swanepoel said: “We’re seeing tremendous growth in Bitcoin activity in Southeast Asia and we believe that Bitcoin will play a significant role in enabling fast, cheap and safe online transacting for large segments of the population that were previously excluded from this market.”
“We are particularly pleased to partner with Coda given their deep local knowledge and presence across