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CoinMate Bitcoin exchange integrates with UK payment provider MoneyPolo
Today London-based Bitcoin exchange CoinMate (Confirmo Ltd.) announced integration with UK payment provider MoneyPolo.
Moneypolo (Mayzus Financial Services Ltd.) launched in 2011 with the goal of providing affordable, secure and efficient financial solutions regardless of location. Today it covers over 150 countries and enables cash withdrawals and deposits in the currencies within those countries. The company’s network extends to over 40,000 partner branches around the world.
CoinMate primarily serves the European region and launched in 2014 with an exchange designed to facilitate quick and easy trading without much need for advanced knowledge.
The integration with MoneyPolo allows CoinMate users to deposit cash in over 150 countries. The processor also supports CashU deposits and will allow instant withdrawals from the exchange. The exchange currently allows trades of BTC for EUR, PLN, and CZK. The exchange launched with trades in USD but switched to EUR mid-July this year with the version 1.2 of the CoinMate platform.
The exchange also allows payments and withdrawals via OKPay.
This comes after news from the European Union that arguments have been made by a taxation regulatory group that bitcoin transactions should be exempt from VAT. Value Added Tax or VAT is a tax in the EU that consumer goods and services are subject to. Bitcoin, it is argued, is primarily a medium of exchange and store of value similar to a currency, and therefore is not a consumer good or service. This would mean that bitcoin traders in the EU need not worry about extra cost for transactions.
Image credit: CoinMate.io webpage screenshot via Confirmo Ltd.
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