Cryptocurrency Processor Vogogo Closes $12.5 Million

vogogoVogogo is a payment processor which is not strictly focused on cryptocurrency, but more on its clients. Its other offerings include know-your-customer and anti-money-laundering services for firms transacting in Bitcoin and in general.

The company could represent a real disruption for the industry if it starts to gain traction, moving in on the business of companies like CoinBase and BitGo. Today Vogogo announced that it has closed an oversubscribed 12.5 million dollar funding round which was led by a few traditional financial firms: Salman Partners Inc., Clarus Securities Inc. and Beacon Securities Limited.

The new funds will be used to continue developing Vogogo’s products, which are proprietary in nature. The company’s continued success with funding shows that it’s still early days in the payments sphere of cryptocurrency.

Also read: Bitcoin Exchanges QuadrigaCX and BitMEX Integrate with Vogogo

Readers may remember that back in May, BitStamp partnered with Vogogo for its compliance services. Compliance is another expanding sector of the cryptocurrency industry, with

Read more ... source: CryptoCoinsNews