23 Aug '13, 8pm

Tradehill Bitcoin Accounts Moving to Credit Union - Bloomberg #bitcoin

Tradehill Inc. , an exchange for virtual currencies such as Bitcoin, is moving customer accounts to a U.S. credit union, a shift designed to make it easier for clients to complete transactions. Holdings with Tradehill will be transitioned to federally-insured accounts at the Internet Archive Federal Credit Union, according to an e-mail to clients that was obtained by Bloomberg News. Tradehill is moving accounts to the credit union to win more business from investors and financial institutions that trade in Bitcoins, according to a person familiar with the matter who asked not to be named because the plans aren’t public. Created four years ago by a person or group using the name Satoshi Nakamoto, Bitcoin is a virtual currency that can be used to buy and sell a broad range of items -- from cupcakes to electronics to illegal narcotics. The surge in a Bitcoin’s value has made ...

Full article: http://www.bloomberg.com/news/2013-08-23/tradehill-bitcoi...

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