South African bitcoin exchange Internet Currency Evolution Cubed Exchange (ICE3X) has signed an exclusive agreement with a payment processor VoguePay to launch bitcoin trading in Nigeria, opening up the Naira market for crypto-currency barter.
The agreement will allow VoguePay’s clients to trade bitcoin in their local currency using the existing VoguePay wallets, which will be executed on the ICE³X trading platform being developed over the last two years.
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ICE³X will facilitate the Nigerian clients of the online payment processor to place orders for bitcoin instantly with possibilities to provide full crypto-merchant services to customers.
The platform will officially open for Naira trading on 12 January 2015 with the market currently being live in the production environment for users to sign up and verify their accounts.
ICE³ founder Gareth Grobler said: "We have to be realistic though, the Bitcoin technology has yet to be packaged and applied correctly for it to be a mainstream alternative currency, but as an agnostic payment settlement mechanism within a larger framework it ticks all the boxes and could perhaps have a significant impact on shaping the Nigerian digital economy landscape."
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By GlobalData
