How to Avoid Paying $1.1 Million for Facebook Payments
New York-based online payment service Mint.com is taking the cryptocurrency world by storm this week.
It has been the target of a string of hacking attacks that has forced the company to suspend payment services, temporarily suspend some of its users and halt its ability to accept bitcoin payments.
The company’s CEO and co-founder is Mike Klimas, and its CEO of finance, revenue and operations, Andrew Kliman, is a partner at venture capital firm Union Square Ventures.
Both are also in the top ranks of the hedge fund industry.
Klima and Klimans company, Cryptocompare, has been dubbed the “most trusted online payments platform” by Wall Street Journal columnist David Rosenberg, who said he was impressed with the firm’s ability to process bitcoin payments, which he believes are “more secure, cheaper and more secure than the existing financial services.”
The news was first reported by TechCrunch.
Mint’s founder, Mike Kramas, speaks during a press conference on August 2, 2018 in New York City.
(Photo: Mark Lennihan, AP) Klimaras and Kramanas team is not alone in his efforts to gain a foothold in the bitcoin space.
Earlier this year, a group of Bitcoin startups launched a new cryptocurrency, Bitcoin Cash, that was backed by the investment firm UnionSquare Ventures.
Mint was one of the first companies to announce plans to launch a Bitcoin payment system in 2017.
Krama, who was recently named co-CEO of the company, said the company was the first to offer bitcoin payments to merchants in the United States.
He noted that the company is currently accepting bitcoin payments from businesses in the U.S. and other countries.
“We’re trying to make bitcoin payments in the most secure way possible, and in the best way possible to protect customers,” he said.
Mint CEO Mike Klamas speaks during an interview at Mint on August 3, 2018.
(Image: Mint) “Mint’s approach to bitcoin is very simple: We’re the first bitcoin payment processor that will accept bitcoin as payment.”
The company said it is also developing a service to make payment in other cryptocurrencies, such as Ripple.
The new service will be available later this month, and the company said the system is designed to work with bitcoin payments made in Bitcoin Cash.
The Mint service will not replace existing payments, but will help users make bitcoin transactions with Mint customers in the future.
“Mining, trading, and all other Bitcoin-related activities are currently subject to regulation by the U,S.
government and its agencies, which will require any payment to be routed through Mint and not through any of the other bitcoin payment services,” Kramamas said.
The service will only accept bitcoin transactions that have not yet been processed through other payment processors, the Mint spokesperson said.
Cryptocurrency has been a hot topic in recent months.
New York’s attorney general, Eric Schneiderman, is investigating a new Bitcoin exchange called Coinbase, which was recently accused of engaging in fraud.
Earlier in August, the Securities and Exchange Commission approved a proposed rule to allow regulated entities to accept Bitcoin, the digital currency that can be used to buy and sell goods and services online.
Klama said the mint has been working to secure the financial services industry for several years.
“There are a lot of financial services companies that were in the process of doing some of these deals and then we were able to take them off the table for a couple years,” he told TechCrunch on Monday.
“I think this is a huge step forward.”
Read or Share this story: https://usat.ly/2f6pNjD