Bitreserve launches API for developers for its payments platform

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Bitreserve, the Bitcoin start-up that allows for currency conversion and payment transactions, has launched Bitreserve Connect – an application programming interface (API), developer community and app directory, which allows partners to integrate Bitserve functionality into their own financial services apps.

Bitreserve launches Bitreserve Connect

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Developers can integrate Bitreserve’s financial services apps by visiting the start-ups App Directory and API Documentation site. According to a company blog post, the new feature enables customers to:

  • Hold, send and convert money instantly — and for free — to anyone, anywhere, dramatically improving a business’ bottom line;
  • Accelerate development and go-to-market for new ventures;
  • Conduct completely transparent transactions, where all money held, sent and converted can be traced in real-time;
  • Fulfill multi-currency transactions for free, and multi-commodity transactions instantly;
  • Secure and protect customer deposits with one-to-one reserve backing;
  • Incorporate Bitreserve’s best-in-class Anti Money Laundering (AML) and Know Your Customer (KYC) security and information infrastructure to ensure businesses meet regulatory requirements. This enables developers to focus on their core product, not the expensive and time consuming task of building a financial services backbone.

Jonathan Chester, Founder of Bitwage, a partner of Bitreserve that will help to serve customers throughout the initial roll-out of the API, says:


“Sending money across borders is a nightmare. Paying employees in different countries means fees for the employer and the employee, plus it adds uncertainty of when wire transfers will actually come through based on differing banking systems around the world. Our integration with Bitreserve Connect is going to fundamentally change the game for people that don’t have access to basic banking systems, or are getting penalized in fees. Bitwage can now serve employees and contractors in countries that are hard or near impossible to reach. Plus, we’ve added transparency, massive cost and time savings for both our employer and employee network around the world, and can now pay anyone in the world in one fell swoop. It’s an incredibly powerful thing and will change a lot of our customers’ lives for the better.”

The group also has partnerships with Easy.Money and LibertyX to provide a seamless service. The move is a clear step into independence from Bitcoin. Bitreserve aims to be a cloud-based platform for people to transfer money across international borders at zero costs safely and fast. Halsey Minor, Founder of Bitreserve, adds:


“Today we’re Bitcoin. Our intent is to take all of the world’s currencies and allow them to be debited and credited instantly for free. The scope of Bitcoin is pretty limited. Elektra would have no interest if we didn’t do the dollar and the Mexican Peso. (…) The API is creating a nexus that will drive functionality and partnerships 1,000 times faster than they would otherwise have been.”

 Bitreserve to date has raised $10m in funding, holds around $2m in assets and brought on board Anthony Watson, former CIO for Barclays and Nike as well as William Dennings, Security Chief at Nike.