DebitWay.ca, a payment service provider located in Montreal, Quebec, is partnering with Cryptsy to assist the altcoin exchange in expanding its business into the Canadian market so that Canadian users can conduct trades in their own currency much faster and securely.
DebitWay.ca’s IOP1 will supposedly allow Cryptsy users to conduct their transactions without fear of identity theft. Jonathan Arias, who is a senior software developer for DebitWay, said that any information transmitted across DebitWay's servers is encrypted with the "best encryption software in the industry"2.
DebitWay has previously inked similar deals with expresscoin3, Quadriga CX4 and CoinRnR5. DebitWay promotes its services as a buffer between you and the bank and in doing so, assumes all the risk. This is something which so called Bitcoin businesses, which look to profit in fiat, clearly find favourable as many startups flounder once banking relationships are ended.
For Cryptsy, this is the first step towards allowing international direct debit transactions and real time cash transactions. In recent weeks, Cryptsy has also made agreements with Vogogo and Digital BTC.