Bitcoin exchange Netagio launches USD and EUR order books
18 December 2014 | 2794 views | 0
In response to customer demand, Bitcoin exchange Netagio today announced the launch of additional USD and EUR order books on its already established Bitcoin / GBP exchange.
Having launched their GBP / Bitcoin exchange in July 2014, Netagio has taken the strategic decision to expand their offering to US Dollar and Euro trading capabilities in reflection of the overall Bitcoin marketplace, which sees 27% of all Bitcoin trading occurring in USD markets and 2.5% in the EUR markets.
For the first time, retail customers and institutional investors from 114 countries are able to buy and sell Bitcoins for USD and EUR as well as GBP continuously, cost-effectively and securely on Netagio’s peer-to-peer exchange platform. International customers will now no longer need to make initial deposits in GBP to buy Bitcoin, thereby eliminating any exchange-rate potential cost implications.
To encourage liquidity provision to the exchange, the maker-taker model has also been built into both the USD / Bitcoin and EUR / Bitcoin books. In combination, the new order books and the extension of the maker-taker model are designed to increase the opportunities for both retail customers and institutional investors seeking opportunities in the Bitcoin marketplace.
Netagio operates to the highest regulatory and compliance standards, having all the required anti-money laundering (AML) and Know Your Customer (KYC) checks and controls in place. Netagio is underpinned by European banking relationships via partners authorised and regulated in accordance with the European Payment Services Directive (2007/64/EC). Furthermore, Netagio is the first Bitcoin business to be independently audited and receive an ISAE 3000 standard for the safely and security of its Bitcoin storage, which remains free of charge.
Simon Hamblin, CEO of Netagio, said: “Building on our success of already operating a Bitcoin / GBP order book, and having listened to our customers’ demands, we are excited to add USD and EUR trading to our platform. The US and Europe are the largest markets for Bitcoin trading, after China, and as such present a great opportunity for retail and institutional investors wishing to access these markets. Furthermore, adding the ability to trade Bitcoins for additional currencies will further drive liquidity to our exchange, which will ultimately benefit our increasingly global customer base.”
Also in response to customer priorities, with the introduction of the USD / EUR books Netagio have ceased their gold offering and no longer provide opportunities to buy and sell Bitcoins for gold.