It was announced today that ANX had acquired CoinMKT in order to expand their presence around the globe. David Chapman, ANX’s COO, said that the acquisition would strengthen their footprint in the Americas. The bitcoin exchange also has plans to bring new partners on board so it will be able to offer local bank transfers and MTB licenses all over the USA.
The break into the American market
ANX came into being as a bitcoin exchange in 2013. Through their history, it’s easy to assume that despite the fact they’re based in Hong Kong, they’ve been targeting the American crowd with their supported USD trading since their early days. With this acquisition, it’s going to be easier for ANX to compete with the major US exchanges.
With physical presence in the country, it’s probably going to be easier for the company to provide a more localized service to it’s US costumers. The Santa Monica based CoinMKT will continue to operate under the same brand and its founders will be helping with the transition. However, starting from the 2nd of February, CoinMKT will be under the ANX umbrella of companies according to statements.
ANX and the exchange ‘arms race’
CoinMKT isn’t the first acquisition ANX has made, either. Back in November, ANX had acquired the Norway-based bitcoin exchange Justcoin. But this time, things are quite different. ANX is experiencing an extremely competitive climate. Major US exchange Coinbase launched their new regulated exchange service for the US on the 26th and the Winklevoss twins, well known bitcoin investors and entrepreneurs, recently announced an equivalent service as well. Will we see another bitcoin price boost similar to the one we saw yesterday from the Coinbase news? What do you think? Let us know…
Images from ANX.