Netagio Clears Banking Hurdle - Essay Example

In mid-September, the United Kingdom’s Bitcoin industry suffered a hindrance. This happened because the British banking partners for Capital Treasury Services Limited (CTS) from Isle of Man requested that CTS should stop trading with all digital currency businesses.

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After that, at least one Bitcoin business successfully removed the effects and managed to carry on.

A few hours ago, Netagio announced a new partnership with WalPay. WalPay is a payment service provider based in the Isle of Man. It secures new banking facilities for the company while the banking industry is still suffering from the recent withdrawal from the crypto currency sector.

Their new arrangement will be such that the users can deposit and receive international payments in EUR, GBP, and USD. More currencies will be added to the list soon.

These fresh banking facilities are reinforced by European banking partners and because of that all the transactions will be governed and monitored strictly by the regulatory environment set in the European Payment Services Directive.

Customers can choose to make credit and debit card payments to individual Netagio trading accounts. Those who hold Visa, Visa Debit, Visa Electron, Maestro card, MasterCard, or MasterCard Debit can deposit funds with Netagio and also trade them against gold, sterling or Bitcoin whenever they wish.

Before wider adoption is encouraged, Bitcoin will have to pass this test where seamless transaction is required between traditional banking systems.

Simon Hamblin, CEO of Netagio, mentioned in an interview that since the time they were informed about CTS’s decision, they started assessing their dormant and new banking relationship partners.

He explained that their aim was to secure a partner that would be able to address Netagio’s immediate need and also enhance the services for customers.

WalPay met all these expectations. Hamblin stated that they were impressed by the payment service provider’s facility and commitment.

WalPay’s head of business development, Justin Martin, also recognized the advantages of this partnership. Because Netagio is among Bitcoin’s most high-profile companies, WalPay was benefitted in many ways.

The head of business development stated that the appetite for the leading digital currency is not fading.

He also offered more information about the collaboration with Netagio saying that their tight trading rules, PCI compliant gateway and card security measures have been specifically modified to work tunefully with Netagio’s crypto vault solutions and exchange. The aim is to maximise consumer confidence.

In spite the controversy in Isle of Man, Bitcoin seems to have a great present. It also has potential to generate profit in the future. Netagio is the only exchange that allows trading between this promising digital currency, physical gold and British pounds. It also accepts deposits in US Dollars and in Euro.

It is a bonus for those buying either Bitcoins or gold, as Netagio will help them find sellers to trade with. For sellers, they arrange buyers after a price is set. The company also are the first to offer offline storage service for Bitcoins.

This British Bitcoin exchanges has successfully cleared the banking hurdles with their new partnership with WalPay.