Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZ digital currency platform secures US investor interest

16 July 2014

New Zealand’s largest digital currency platform secures US investor interest

Launched in January 2014, is the number one digital currency platform in New Zealand, in terms of trade volume, and in the early stages of securing funding from international investors.

Following an initial round of seed funding, Jesse Chenard, a prominent US entrepreneur and co-founder of Tremor Video (NYSE: TRMR), has been announced as both a major investor and company advisor.

The investment is a significant milestone for the young digital company and its vision of being a leading player in the digital currency space, due to its innovative exchange trading platform.

Founded by Australian internet entrepreneur Rick Day and New York attorney Patrick Manasse, and head-quartered in Australia, igot is a one-stop shop to buy, sell, send and request cryptocurrencies safely and simply at the quick click of a button. It is one of few digital currency providers to feature BPAY and direct debit facilities, allowing for efficient and trusted fund transfers directly to and from a users’ bank account.

igot’s Future Trade feature takes the platform to the next level, enabling traders to automate future ‘buys’ or ‘sells’ based on their price expectations rather than exchanging at the current market price.

Within six months since launch, igot is also finding success in other international markets, including Australia, India, Hong Kong and Singapore, where the company is currently operating. As in New Zealand, in India igot has quickly become the largest digital currency exchange platform in terms of trade volume.

Rick Day, co-founder of igot, says, “Cryptocurrency is a space largely untapped in the global marketplace, with user demand for services to support the safe trading of digital funds increasing by the minute.

“We established igot to fill this gap in market and offer users a more convenient and secure way to exchange digital currencies to and from anyone, anywhere in the world and at a very low cost to the consumer.

“Although it’s early days, securing the support from well-known investors such as Mr Chenard is a positive step forward in our company’s growth and our plans to break into the new and emerging market of cryptocurrency,” said Mr Day.

igot co-founder Patrick Manasse says, “When we established igot over a year ago, the vast majority of people we engaged with thought our idea to launch an international cryoptocurrency exchange site was beyond ambitious.

“Despite initial skepticism, we have been able to convince stakeholders, investors and users alike on the benefits and opportunities that the igot platform enables local users on a global scale.

Notwithstanding the debate over the benefits of cryptocurrencies and related digital businesses, igot’s founders believe that the number of people being attracted to digital currency as a form of finance and exchange will only increase.

“Having experienced rapid growth in such a short time, we believe that the question now is how fast we can continue to grow, and how fast cryptocurrencies can enter into mainstream transactions,” added Mr Manasse.

Over the next 12 months, igot plans to expand in both the Asian and European markets, as well as offer the top 10 cryptocurrencies for users to trade, exchange, sell or buy.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Fuel Leak: Refinery Prepares To Repair Damaged Pipeline

Refining NZ has confirmed that it is to start repairs on a section of its multi-product fuel pipeline which was shut down following a jet fuel leak last Thursday. More>>uption.htm">More>>


StatsNZ: Economy Grows 0.8% In June Quarter

“Strong export and domestic demand underpinned growth this quarter,” national accounts senior manager Gary Dunnet said. “Demand for exports has resulted in strong production growth in manufacturing and service industries.” More>>


Stats NZ: Annual Net Migration Remains High

Annual net migration was 72,100 in the August 2017 year... Migrant arrivals reached 132,200, a new annual record, and migrant departures were 60,100 in the year ended August 2017. More>>


Expert Reaction: Cassini's Grand Saturn Finale

After a 20 year mission, NASA's spacecraft Cassini will meet its demise this week by plunging into Saturn's atmosphere and burning up. More>>


Jurisdiction: Court Rejects Cathay Unit's Retirement Age Of 55 For Pilots

The Supreme Court has backed two Auckland-based Cathay Pacific pilots who claimed local law meant they couldn't be forced to retire at 55. More>>


Supreme Court: AFFCO Loses Lockout Appeal

The essential question in the appeal was whether those who presented themselves for work at the beginning of the 2015/2016 season were at that time “employees” for the purposes of the lockout provision... This Court has unanimously dismissed the appeal. More>>