WPCS International Acquires Bitcoin Trading Platform BTX Trader


Dec 17, 2013 3:52:46 PM PST | 1 View(s) | Rating

The first and only stock for investing in the Bitcoin sector is officially WPCS International (NASDAQ: WPCS). Executives from WPCS International announced today that they have signed initial documentation for a partnership with the leading multi-exchange Bitcoin trading platform, BTXtrader. By owning WPCS International stock, investors now receive concentrated exposure to the Bitcoin services market backed by a fully-reporting U.S. company and the continuous liquidity of NASDAQ. Despite the parabolic growth of Bitcoins during recent months, the only investment option has been to purchase Bitcoins- a laborious and risky process. Plagued by lengthy application forms, complicated banking requirements, offshore accounting arrangements, background identity checks, withdrawal delays often lasting weeks, and intra-day fluctuations exceeding 50%, most U.S. investors have been understandably hesitant to buy Bitcoins directly. To bridge the gap between investor interest and poor accessibility, WPCS International has decided to offer Americans a simple form of exposure through its own NASDAQ listing. BTXtrader looks and behaves like a traditional stock trading platform. Boasting hundreds of established users with real money accounts, WPCS International’s BTXtrader offers seamless access to the six largest Bitcoin exchanges. Users can see up-to-the-second price quotes for Bitcoins around the world. The platform routes orders to any of the six largest exchanges that handle 90% of Bitcoin trading activity including Mt. Gox, BTCChina, Bitstamp, BTC-E and CampBX. With no other Bitcoin trading platforms accessing all six exchanges, WPCS International is a first mover in this sector. Users receive real-time bids and offers from all exchanges, providing the most comprehensive depth-of-market view for Bitcoin in operation today. Finally, BTXtrader provides advanced orders types for full and fractional Bitcoins: buy, sell, limit and synthetic stop-limit. By operating the world’s leading Bitcoin trading platform, WPCS International offers investors direct exposure to the rapidly growing Bitcoin services market. BTXtrader is a scalable platform that is simple for U.S. investors and can easily add more Bitcoin exchanges as they gain in popularity. Today’s announcement is significant for a company like WPCS International with a small market capitalization, low float, high insider ownership, millions in signed contract revenue and investors like billion-dollar capital fund Hudson Bay as well as the former director of Yahoo!’s $270 million marketing engine, interCLICK. Bitcoins have exploded in popularity in recent months, rallying from below $1 to a high of $1,242 in U.S. dollar-denominated value. Championed by Mark Zuckerberg’s nemeses the Winklevoss Twins, Bitcoins have gained national prominence, front page articles in all major press outlets, a dedicated presentation at the Value Investing Congress, positive comments from the U.S. Chairman of the Federal Reserve, and full research coverage by top firms like Bank of America. Bitcoin commands tens of billions in U.S. dollar-denominated value, dwarfing the market share of all other competitors combined including PrimeCoin, PeerCoin, Feathercoin, MinCoin, SolidCoin, Devcoin, WorldCoin and CopperLark. No other cryptocurrency besides Bitcoin has attracted billions of investment dollars, yet WPCS International’s scalable platform can easily service additional cryptocurrencies as they gain popularity. Sebastian Giordano, interim CEO of WPCS International, commented on today’s announcement, “We are very excited about bitcoin and the prospect offered by BTX to enter a very fast-growing market. We believe that the software platform developed by BTX will support the opportunities to advance bitcoin as an asset class, currency, money transfer mechanism, and important alternative in the financial markets space. As one of the first publicly traded companies to make an early entrance into the bitcoin space, we believe this transaction is consistent with ongoing efforts to provide the Company with an opportunity to deliver improved shareholder value in the future.” In summary, WPCS International boasts a concentrated investment option for the Bitcoin services market in addition to hundreds of millions in historical revenue, full NASDAQ compliance and over 12 operating years since its founding. The only stock available to U.S. investors with an appreciable percentage of operations focused on Bitcoin, today’s announcement is a pivotal moment for WPCS International.

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