BitSpark Discontinues Bitcoin Exchange Service
Bitcoin Company BitSpark recently announced to discontinue its trading services for an indefinite time, its blog reported.
According to the available details, the Hong Kong based company decided to quit on its Bitcoin exchange as it wanted to channel all its focus on its remittance service, a sector that is currently at the forefront of digital currency technology. Just a few weeks back, BitSpark had also closed a successful funding round after generating some whopping six-figure investments from Hong Kong investors. The money indeed will be routed to grow BitSpark’s remittence solution network across Philippines, Indonesia, Australia, Hong Kong and China, the countries it mentioned in the blogpost.
“Our team is very excited to be launching a prototype of a new product in May at the 2015 Innotribe Semi-finals in Singapore and we will be announcing more details then,” BitSpark further added. “Suffice to say it’s a remittance focused product that will bring the benefits of Bitcoin to a wider audience enabling lower cost and faster money transfers globally.”
At the start of April, the full-fledged remittance company had also formed a partnership with BitGo, a Bitcoin-based security solutions company, to ensure the best-grade protection of its clients’ online vaults. The partnership also brought a stable insurance policy for the company and its customers, in case there is a theft of Bitcoin funds.
A lot has been discussed and proved about the role of Bitcoin technology in improving the current remittance sector. Apart from BitSpark, there are many blockchain-centeric companies in the market that have initiated the offering of cross-border payment solutions, Ripple Labs one among them.
Meanwhile, BitSpark’s Bitcoin Exchange customers are allowed to withdraw their funds from the online wallets.
Via;http://www.newsbtc.com/2015/05/07/bitspark-discontinues-bitcoin-exchange-service/
by 