Igot.com launches cryptocurrency payment processing service

Igot.com has recently announced the launch of a new cryptocurrency payment processing service. The new service will enable automatic conversion of a payment received in bitcoin to one of the fiat currencies used in 40 countries. Some major countries include France, Greece, Italy, Luxembourg, Netherlands, Portugal, Sweden, UAE, New Zealand, United Kingdom, India, Hong Kong, Singapore, Denmark, etc. A fixed fee of 0.5 percent will charged from the customers.

Igot.com, an Australia-based company that was founded in 2013, had received seed funding from international venture capitalists to expand its operations last year reportedly.

The company's press release states that it is already a major player in the remittance market. It further says that the new service will see the company competing with top bitcoin gateways and payment processors. It aims to compete directly with giants such as BitPay, Coinbase.