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Netagio launches first British Bitcoin, gold & sterling exchange

Thursday, July 10, 2014
Opalesque Industry Update - Netagio, the UK-based digital currency broker, today announced the launch of the first and only British exchange enabling retail customers and institutional investors to trade gold, Bitcoins and GBP on a single peer-to-peer exchange platform. Building on Netagio’s growth and reputation as a secure platform, on which to buy and sell Bitcoins and gold individually, customers from 114 countries around the world can now trade each asset class against each other on the exchange.

Netagio’s Bitcoin, gold and sterling exchange is designed for retail customers and institutional investors with an appetite for opportunity. For the first time, customers can build and trade a Bitcoin, gold and GBP portfolio; trade in and out of Bitcoin vs gold vs GBP positions quickly and easily on a 24x7 basis and from a single account. Customers can send and receive international and domestic payments via the Capital International Group, through one of its underlying companies which is licensed by the Isle of Man Financial Supervision Commission. As such, funds are directed through the British banking system, allowing for fast and cost-effective payments.

Netagio’s exchange builds liquidity by offering a ‘maker-taker’ pricing model, designed to reward liquidity providers. This is a model, which has proved highly effective in attracting liquidity onto many of the alternative equities exchanges.

The exchange has been designed to meet the highest compliance requirements and standards of other registered financial exchanges, adhering to the European Payment Services Directive, with stringent anti-money laundering (AML) rules, diligent customer on-boarding ‘Know Your Customer’ (KYC) checks and continuous exchange and trade monitoring surveillance.

Netagio’s CEO, Simon Hamblin explained, “We have been encouraged by the early and increasing appetite from retail customers and institutional investors. From our conversations, they clearly want to take advantage of the opportunities available from being able to trade between the asset classes on a single continuous exchange, any time of day or night. Concerned about the speed, cost and security implications of sending their transactions abroad, customers clearly wanted a British-based banking relationship, which we can now offer.”

Netagio is underpinned by the highest levels of security for the trading and storage of digital and gold assets. In January 2014, Netagio announced their free secure offline storage vaults for Bitcoins and shortly after, the rollout of their highly secure storage vault for physical gold. The British business model is based on a strong legal, commercial and financial framework, following the highest regulatory standards, while the exchange platform is built to the highest technical specifications.

Commenting on the launch of the Exchange, the Capital International Group added, “We are delighted to be providing payment services, foreign exchange and treasury management services for Netagio’s exchange. We have always seen the potential of digital currencies and have been impressed not only with Netagio’s innovative mindset in launching this exchange, but their commitment to providing a robust and secure infrastructure and exceptionally high standards of compliance. By trading on the exchange, customers will benefit from faster wire transfer payments and also be able to make international payments from their Netagio accounts.”

Netagio was founded by a management team with a strong track record of experience gained in the finance, security, commodity trading and precious metals sector.

Netagio is a founder member of the UK Digital Currency Association.

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