Netagio Ceases Bitcoin Exchange Activity in Restructuring Move

UK-based startup Netagio, announced it had initiated a restructuring plan, which will consist in refocusing its core business on wealth storage. Netagio will close its BTC, GBP, USD and EUR exchange, and warns users to withdraw their funds before March 16.
Netagio, which suspended trading on all order books on February 16, is looking to launch a wealth storage venture in March 2015, with plans to start offering secure cash storage options for firms and individuals.
“Against a backdrop of bank bail-outs, caps on cash withdrawals and concerns surrounding bank malpractices regarding client fund segregation, Netagio will offer customers the opportunity to safeguard their funds in globally located money vaults,” the company said in an announcement on February 16.

This post was published at Coin Telegraph on 2015-02-17.