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, igot.com 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.