03 Mar '13, 8pm

Bitcoin exchange teams with US banks to broaden service

The largest Bitcoin exchange in the world will have a presence in the U.S. starting this month, a move intended to make it easier for people in the U.S. and Canada to buy the virtual currency. The exchange, called Mt. Gox, is working with the U.S. startup CoinLab and Silicon Valley Bank to offer its trading services by March 31, says Peter Vessenes, CEO of CoinLab. Mt. Gox is based in Japan. It offers the largest market to buy Bitcoins, which is an electronic currency that uses a distributed, peer-to-peer cryptographic system to verify transactions. Easier access in US, Canada Buying Bitcoins is not particularly easy, since most exchanges require either cash-in-hand transfers at a bank or a wire transfer. Exchanges typically do not allow people to buy Bitcoins with credit or debit cards because of fraud risks. Vessenes wrote that Mt. Gox, despite some previous security pro...

Full article: http://www.techhive.com/article/2029980/bitcoin-exchange-...

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