igot acquires TagPesa for expansion in Kenya

In addition, the exchange also was granted access to M-Pesa, giving members the ability to cash out directly from the countrys mobile payment system.

igot was created to enable people to buy, sell, send, and receive Bitcoin around the globe, and is open for business in over 40 countries, including the European Union and parts of the Middle East and Africa.

Over 2.5 million Kenyan emigrants around the world send money home to their families. In 2014, remittance inflows to Kenya increased by USD 137 million to USD 1,428.5 billion. The average remittance transaction costs the emigrant sender between 5% and 9%. Also, in 2012, according to the World Bank, about 60% of remittance payments were physically carried by friends and family across borders and 0% were transmitted via the internet.

Founded in Australia in 2013, igot is a global Bitcoin exchange targeting the international remittance market. While working to simplify the currency exchange process igot is expanding into countries around the globe: Dubai, Hong Kong, India, New Zealand, Singapore and Germany, to name just a few of the 40 nations.