Online cryptocurrency marketplace Bitcoin Shop has announced that its head, Charles Allen, has been appointed to the advisory board of payment processor GoCoin.
Allen, who will retain his role as CEO of Bitcoin Shop, said he was “thrilled to be joining” the board. In a press release published this week, Allen stated:
“The appointment was a natural step in the progression of our relationship [with GoCoin] as Steve [Beauregard, founder and CEO of GoCoin] and I, along with the rest of his team, share many of the same visions for the future of virtual currency.”
He added that Bitcoin Shop and GoCoin were planning further collaborative opportunities for the future.
Allen worked with GoCoin’s chief operating officer Michal Handerhan in the $1.5 million equity financing of GoCoin in March.
GoCoin CEO Beauregard, meanwhile, complimented Allen’s business and financial leadership, saying the company welcomed his added guidance to the board.
Bitcoin Shop, founded in 2014, is an online marketplace similar to Amazon or eBay that accepts the virtual currencies Bitcoin, Litecoin, and Dogecoin as payment for transactions. The site currently offers over 140,000 items in 400 item categories.
The site is powered with the GoCoin payment processor, which converts altcoin transactions in real time to fiat currency – on the Bitcoin Shop site, US dollars. The conversion rate of altcoins to dollars on the marketplace is updated by GoCoin every 15 minutes, according to the Bitcoin Shop site.