Bits of Gold, a cryptocurrency trading platform based in Israel has announced that it plans on entering the European market. The platform will provide a service that enables other international apps to buy and sell Ethereum (ETH) and Bitcoin (BTC), while they rely on the Bits of Gold platform for compliance management, liquidity, and banking infrastructures.
Bits Of Gold Ready For Europe
Bits of Gold is one of the largest cryptocurrency exchanges in Israel, which services about 50 thousand Israeli users, and a turnover of about 140 million USD(180,000 successful transactions) in the last two years.
Youval Rouach, the CEO of Bits of Gold said :
“In the last six years we have learned with the community how to build this bridge between traditional money and crypto. It is precisely the time to take this knowledge and use it in Europe as well.”
Financial System And Website Updates
The Bits of Gold CEO also noted that the financial system and website of Bits of Gold have been updated to withstand any challenges that may arise from this expansion.
He said :
“The move has two arms – one focused on the buyers themselves, and the other aimed at different service providers that will enable their customers to buy and sell digital coins through our service.”
$350 Million Worth Of BTC
The exchange platform over the past few years released data related to its business operations, which supports their decision to enter the European market.
Traders on the Bits of the Gold platform have bought and sold about 350 million USD worth of Bitcoin (BTC), which Youval Rouach credits to Bits of Gold’s
“unique ability that accompanies the customer and supports him from the moment of payment until the moment of receipt of the coins and vice versa.”
Bits of Gold And Silver Castle
In addition to Bits of Gold’s entrance into the European market, they are also looking into getting more institutional investors.
Earlier in the year, they partnered with Silver Castle, the first Israeli based crypto investment company dedicated to accredited and institutional investors. Silver Castle enables its users through Bits of Gold, convert their fiat money into Bitcoin (BTC), then the digital asset can be put into investment funds.