Bitreserve has added seven more currencies to its platform updating the total number of currencies supported by the bitcoin exchange to 16. The service is now available in 157 countries.



The currencies added are Australian, Canadian, New Zealand and Singapore dollars, Kenyan Shillings, and Israeli Sheqel. CoinFox recently reported that Mexican peso and Indian Rupee were added to BitReserve's list of currencies in March. The reason for adding is to make the platform user experience more flexible, as the start-up's announcement explains.

“You talk, we build — this is how we’re changing money. Bitreserve, and Bitreserve members, working together to reimagine money — transaction by transaction, member by member, currency by currency,” the company's news blog reads.

Bitreserve uses the concept of “cloud money” that allows users to convert currencies and send funds in bitcoin to any currency bank card. One of the company’s key goals is transparency. All transactions can be verified through the start-up's public Reserveledge and Reservechain. In March, Bitreserve also launched a visualisation website Changemoney.org , which displays data in real time: amounts kept in different currencies, location of clients, and direction of money transfers.

Earlier this month, Bitreserve introduced a gift certificate app Easy.Money that allows generating and receiving cloud money gift vouchers through a Bitreserve account. In partnership with Bitwage, Bitreserve offers its users a Bitwage Cloud Savings service which enables employees to receive salary in bitcoin.

Bitcoin exchange start-ups tend to expand their services globally. CoinFox wrote about Coinffeine that launched a P2P bitcoin exchange in 70 countries including Russia, Indonesia, China and Brazil. A London-based bitcoin exchange, CoinMate teamed with a UK payment provider MoneyPolo to enable users to convert cash into bitcoin in 150 countries around the world.

Aliona Chapel