Intertrader and Systemics agree digital currency deal

Intertrader and Systemics agree digital currency deal

Digital currency firms Intertrader and Systemics have entered an alliance to integrate and co-market their respective e-payments capabilities.

Under the agreement Systemics' Ricardo financial trading products will be integrated with Edinburgh-based Intertrader's CashBox payment management system. Integration between the two will enable the transfer of value between SOX-enabled currencies and others supported by the CashBox system.

The two firms say they will undertake joint marketing activities to promote the combined system worldwide, focussing initially on opportunities in the USA and UK.

Ian Grigg, CEO Systemics says: "The Intertrader CashBox architecture solves the loading problem that has always bedevilled Internet payment systems. By providing an issuer-neutral platform for conversions between one payment system and another, Intertrader is showing the way ahead for the emerging field of independant market makers."

Intertrader is soon to release Version 2 of CashBox, a solution for payment service providers wishing to acquire Mondex and E-gold value. Version 1 of the CashBox system was used by Bank of Scotland in 1999 in a successful pilot of a pay-for-use Internet-access system.

Systemics' Ricardo group of financial cryptography products, allows for online assets to be created and traded, either directly or on a market. The Ricardo architecture was originally designed in 1995 and launched into live usage with the creation of the DigiGold currency in 1999.

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