31 Aug '14, 1pm

Australian Bitcoin Startup Igot Launches UAE's First Exchange

Australian Bitcoin Startup Igot Launches UAE's First Exchange

Australia-based Bitcoin startup Igot, announced on August 29 it had launched the first Bitcoin exchange in the United Arab Emirates (UAE). The Emirati exchange operates with a Commercial Brokerage License and is fully regulated by the local authorities. It said to have concluded partnerships with local banks for direct deposits and withdraws in UAE dirhams, and is also working with payment processors to enable more options for its customers. Igot told CoinDesk it had hired a team for business development and customer support for its office located in Dubai. Founder Rick Day stated that Igot's largest market was outside of Australia: "Our strategy to expand igot is based on a pairing system. India is one of our best performing markets. In terms of trade volumes, I think we’re the biggest local exchange there. Indians sent $70bn home in 2012." With UAE's workforce consisting...

Full article: http://cointelegraph.com/news/112401/australian-bitcoin-s...

Tweets

igot Launches Dubai’s First Bitcoin Exchange

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UAE’s First Bitcoin Exchange Launches in Dubai

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