RE:news......Newnote to acquire Bitcoin trading app
Newnote to acquire Bitcoin trading app 2014-05-02 14:18 ET - News Release Mr. Paul Dickson reports NEWNOTE FINANCIAL CORP. A STRATEGIC ACQUISITION OF GOOGLE ANDROID BITCOIN TRADING APP Newnote Financial Corp. will acquire 100 per cent of a Google Android app designed to buy and sell Bitcoin. The parties have agreed to maintain confidentiality about the purchase price and other details. CoinExchange (previously Coinbase Exchange) allows investors to trade Bitcoin like on a stock exchange. It supports multiple order types and allows investors to enter multiple concurrent orders which are automatically executed when the criteria is met. It allows investors to get better buy and sell prices by allowing more control over the conditions under which their BTC are sold without having to always be watching the Bitcoin prices. Security is paramount CoinExchange uses a proprietary OAuth 2.0 authentication mechanism, which means it does not store client's username and password, or even have access to it. CoinExchange only requests permission to retrieve client's BTC balance, view client's buy / sell history, and perform buy and sell orders. It cannot transfer bitcoins to any other account or perform any other actions. Newnote plans to adapt the app to trade various crypto-currencies on its proprietary PureTrade Bitcoin Exchange which is scheduled to launch following its beta testing phase. The app will also be private labeled for its Bitcoin Exchange licensees. "We opted to acquire full rights and source code to an easy-to-use app that features in-app purchases and that is seeing a rapidly growing user adoption. This strategic acquisition enables us to speed up the development process and get to market with smartphone trading immediately. Our various versions of the CoinExchange will be widely distributed in multiple languages and on popular app stores outside of Google's Playstore", reports Paul Dickson, President & CEO of Newnote Financial.