Bitrush adds CoinEx to Start-IT network 2015-09-21 09:05 ET - News Release
Mr. Peter Lukesch reports
BITRUSH ANNOUNCES INVESTMENT INTO UKRAINIAN BASED CRYPTOCURRENCY PAYMENT SERVICE PROVIDER
Bitrush Corp. is investing into cryptocurrency payment service provider start-up CoinEx Ltd., in line with continuously developing its Start-IT Ltd. incubator network. Through its London-based subsidiary Start-IT, Bitrush invests into promising block-chain and cryptocurrency projects, and start-ups providing incubating services.
In recent months, Start-IT has focused on the Ukrainian market, which some people regard as kind of the Silicon Valley of the block-chain ecosphere. Together with a team from the Ukraine, Bitrush developed the ad broker platform CoinAdvert. Using the CoinAdvert website, owners can buy and sell on-line advertising space with cryptocurrency.
Via Start-IT, Bitrush now has invested into the Ukrainian cryptocurrency exchange and consumer-to-consumer (C2C) payment services start-up Bitcoin Obmen, having secured, among other things, the right to use its technology for Bitrush's proprietary BitCore FinTech platform.
In partnership with Privat24, the leading Ukrainian Internet bank, and PerfectMoney, Bitcoin Obmen has developed an on-line platform. Registered users can buy and sell bitcoins as well as other cryptocurrencies, with fiat currencies, using a PerfectMoney account, a Privat24 account or a prepaid card. Hence, it is possible to use the cryptocurrency balance to load a prepaid card with fiat currency. Using these services, users can make real-time remittances at very low costs compared with other users in fiat currencies using bitcoin as clearing currency. Privat24 and PerfectMoney users pay 0.5 per cent to 1 per cent in fees. The viral distribution is performed through the company's own affiliated marketing system.
Together with the team from Bitcoin Obmen, Bitrush will use its own network and that of its partners to internationalize these solutions using the brand CoinEx, after taking over the majority stake in CoinEx Ltd. as well as its entrepreneurial leadership. During the course of 2015 and beyond, CoinEx will offer these services in other countries together with banking and card partners. Bitrush's Start-IT incubator network has now acquired more than one million registered cryptocurrency users. More than 1,000 websites are registered in the Start-IT network or one of its websites like CoinAdvert.
Peter Lukesch, chief executive officer of the corporation, commented: "I am convinced that the CoinEx services will be appreciated by our user base in adding significant value to our network and will establish an attractive revenue stream. This kind of payment and money service is extremely important for our target markets in the BRICS [Brazil, Russia, India, China and South Africa] and CEE [Central and Eastern Europe] region with more than 2.5 billion potential customers."
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