In its plan to become a global bitcoin exchange, MonetaGo launched its services in 40 countries this month. The company offers bitcoin buying and selling against 28 currencies and even has a special feature that allows its users to peg bitcoin prices at various exchange rates.
“Digital currency is supposed to be this global phenomenon that is going to enable the seamless transmission of funds across borders, but the reality of it is that 90-something percent of all bitcoin trading happens in three currencies only,” said MonetaGo CEO Jesse Chenard.
Global Bitcoin Exchange Services
Chenard is hoping that their latest expansion would make bitcoin more acceptable and accessible for those trading outside the usual markets of the dollar, euro, and yen. MonetaGo plans to have its bitcoin exchange services available to over 50 countries by the end of the year.
The company was launched in October 2014 and is privately funded by a handful of investors. Chenard says that they are likely to announce another round of funding “fairly shortly.”
The platform was built using AlphaPoint technology and has access to 35 order books from a