CoinMamama has announced that it will be taking on Moa as its wholly-owned subsidiary, taking on the role of the UK’s first Bitcoin exchange, according to a post on its official website.
The company said it would become an official trading platform for the crypto-currency and said it was taking on a number of other financial services businesses.
The move is likely to increase the company’s presence in the UK.
CoinMamas aim is to become a UK-based cryptocurrency exchange, which would allow customers to purchase or sell bitcoin.
In a statement, the company said: “We have long been looking for a global solution to trade cryptocurrencies and CoinMAMAS will help to bridge the gap for traders and investors in the Bitcoin, Ethereum and Litecoin markets.”
The announcement comes on the heels of a recent announcement from CoinMami that it is expanding its business beyond the UK and plans to open a full-fledged US headquarters.
Coin Mami will be trading on the Bancor platform, according the company.
The firm said it will provide trading services to its clients through its London office.
The exchange has already been active in Europe.
Earlier this year, the exchange also opened an office in New York.
It has attracted interest from financial institutions, including Visa, and other major investors.
Coinmamama also said it is preparing to launch a UK subsidiary in the coming months, although it did not say when or if the service would launch.
A CoinMamo spokesperson told CoinDesk: “It’s the perfect timing for us as we are now taking our first UK office as the UK market continues to be dominated by the established financial services providers.”
CoinMAMA is currently listed on the OTC Markets Group’s UK exchange.