Bits of Gold, an Israeli crypto exchange, has developed a new Application Programme Interface (API) platform for crypto payments.

The API is intended to focus on encouraging local businesses and industries to accept crypto payments. This will enable small businesses to accept cryptocurrencies and get its equivalent value in Israeli Shekels or US Dollars.

Youval Rouach, CEO of Bits of Gold, has stated that the firm is trying to build a cash register that will enable secure usage of cryptocurrencies by retailers. Moreover, it is also looking forward to introducing a crypto clearing service by the second quarter of 2019.

He has also said that the regulatory factors associated with crypto transfers make the process complicated. As claimed, the exchange’s API platform allows easy usage of Bitcoins and compliance with regulatory rules, without requiring any complicated payments system for different business.