NEWS
NEWS
NEWS
ANX acquires Bitcoin exchange CoinMKT for U.S. expansion
Bitcoin services company ANXBTC.COM (ANX) has acquired Santa Monica-based cryptocurrency exchange West Orange Labs, Inc (CoinMKT) for an undisclosed amount.
CoinMKT opened its doors in 2013 and bills itself as being “positioned to be the leading exchange for cryptocurrency in the United States.” The firms goals are to offer a “safe, reliable place to buy and sell cryptocurrency that you trust.”
Hong Kong based ANX offers similar services to the CoinMKT but with a focus on Asia. It aims to lower “the barriers to Bitcoins and other crypto currencies adoption by increasing ways for consumers to acquire and access crypto currencies.” ANX’s credits include introducing the world’s first physical Bitcoin Retail store and the world’s first Bitcoin debit card.
The acquisition is said to be aimed at expanding ANX into new territories, with COO David Chapman telling e27.com that the acquisition would strengthen its footprint in the Americas, and that it plans to offer local bank transfers and MTB licenses throughout the United States.
CoinMKT will continue to operate under the same brand, with ANX the parent company and ANX technology powering its exchange.
This is the second acquisition in three months for ANX, which acquired European Bitcoin exchange JUSTCOIN.COM in November.
The move by ANX comes at a time of increased interest in Bitcoin exchange services in the United States, including Coinbase Inc. opening (what they claim to be) the first licensed Bitcoin exchange January 26th, with the Winklevoss Twins not far off from providing a similar offering.
Notably CoinMKT holds a Money Services Business license with the Federal Financial Crimes Enforcement Network.
photo credit: btckeychain via photopin cc
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