GoCoin raises $550k to process bitcoin payments in Asia and South America

Bitcoin payment system GoCoin has increased $550,000 in risk capital to enlarge its activities.

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GoCoin raises $550k to process bitcoin payments in Asia and South America

Bitcoin payment system GoCoin has increased $550,000 in risk capital to enlarge its activities.

Financing of GoGoin’s “seed round” is conducted with a help of team of investors, especially by Owen Van Natta, who worked in Amazon, Zynga and also in Facebook on the position of Chief Operating Officer

“A distributed angel fund”, called BitAngels, which participated in financing of a range projects, based on BTC has took part in this project too.

Since its organizing in July 2013, GoCoin has paid a lot of attention on preparation of base that will give traders an opportunity to use different “virtual currencies”.

According to the words of Steve Beauregard, CEO and one of the founders of GoCoin, number of members of the main team of GoCoin accounts for 4 people and there are also uncertain amount of out-of-staff employees, performing specific stints.

Brcok Pierce, investor of different game projects and a significant figure, pushed up growth of system of trading merchandises through the Internet, will be chairman in the board of directors.

GoCoin’ paying base, by now, is a private unit, consisting of a little amount of traders, using Bitcoin to conduct the trading process within the unit.

Beauregard said to CoinDesk: “For our merchants in our early adopters program, there are 0% processing fees and no monthly fees,”

Despite that fact that the main office of GoCoin is in Singapore, some firms, like Coinbase in San Francisco and BitPay in Atlanta are also considered as their competitors, partially, due to the fact that there are some GoCoin’s offices in Santa Monica, California also.

Its aim is to expand its work in other countries, concentrating on trades in Asia and South America.

According to the company’s statement about financing of seed, to choose the countries, where getting credit card and buying merchandises and “services” through the internet event from bordering countries can be very challenging is a part of GoCoin’s strategic plan.

As the company is searching for the traders to have a deal with such fields, as E-trading, “online content” and games will be in the centre of attention.

According to Beauregard, main office of GoCoin is situated in Singapore, which can be considered as a “financial capital” of South- East Asia and even of the whole world, by nowadays. Like trade platform of the company is spread al over the world, people, investing in GoCoin are from all over the world.

Beauregard mentioned that to allow companies, which would like to work with GoCoin, to begin using Bitcoun payment system as fast as it is possible, GoCoin simplified “compliance procedure” is implemented.

The company is introducing rational KYC manipulations for traders, who are ready to be served by us. They have putted special attachments, which will activate necessary KYC documents, when it is needed.

As pointed out Beauregard, taking into consideration cell phone’s higher popularity in comparison with computers in Asia and South America regions, GoCoin is planning to implement “mobile strategy” too. They already have a prepared plan for mobile that will be presented in the nearest future.

By nowadays, the most significant financing in the history of Bitcoin, accounting for $9 million belongs to GoCoin, a new project of Bitcoin by Jeremy Allaire, overcoming it’s the most successful colleagues Jim Breyer, Accel Partners and General Catalyst Partners, announced in the latest news. To compare, Coinbase has gotten $6.88 million in total by nowadays, and BitPay-$2.51million. Considerable increases in Bitcoin are also noticed in Armory wallet, accounting for $600k and in Coinsetter with $500k.

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