Vaultoro Seeks Additional Funding to Tackle Euro Market

Vaultoro Seeks Additional Funding to Tackle Euro Market

Vaultoro, one of the world’s leading trading platforms for Bitcoin and gold, is raising additional funds to expand their services in the coming months. Additional team members will be recruited, and a new order book will be made available if this round of funding is successful.

Also read: Gaming Platform Steam to Introduce Bitcoin Payments

Vaultoro Looks to Expand Company & Services

Bitcoin.com_Vaultoro Joshua Scigala

Whenever a Bitcoin company is looking to expand its operations, things are looking positive for their business model. For the Vaultoro exchange platform, which has been self-funded from day one, the time has come to expand both their staff and their offerings to target a whole new market.

Vaultoro CEO Joshua Scigala told Bitcoin.com how the current plan is to secure $700k USD in funding – worth 25% of company equity –  to bring at last two new developers to the team. Maintaining an exchange platform dealing in both bullion and Bitcoin is a full-time job, and hiring additional staff will ensure a fluid continuity of day-to-day operations.

However, these two new developers will not just be splitting the current tasks among them as Vaultoro will be expanding their offerings to the European market. Ever since the platform came to be, all of the growth has come through organic traffic, rather than spending a lot of money on marketing. This approach seems to have paid dividends as there has been a growing demand from European bullion holders getting involved in Bitcoin.

Vaultoro CEO Joshua Scigala told Bitcoin.com:

We will also be opening a euro/gold order book to onboard gold bugs who have heard about bitcoin but never understood it enough to jump in.

This is also one of the factors, which make Vaultoro an attractive platform: Bitcoin aficionados can easily exchange part of their portfolio to gold whereas gold bugs can get into Bitcoin without converting bullion to fiat currency first. Due to this overwhelming demand, the plans have been drafted to open a Euro/gold order book shortly. Moreover, this gives investors a way to buy gold, which can be kept or converted to either EUR or BTC whenever they want to.

But the Vaultoro team also plans to allocate a budget for marketing purposes. Organic growth has been great so far, but putting some money on the side for marketing purposes would be a first for the company. No specific details were released as to how this budget would be used, though, but more details will be made available as the funding round comes to a close.

Do you think adding a Euro order book to the Vaultoro exchange will bring more attention to Bitcoin? Let us know in the comments below!


Source: News Tip Via Email

Images courtesy of Vaultoro, Joshua Scigala