Hong Kong Bitcoin Exchange Gatecoin Finds Banking Lifeline, Adds Litecoin

Hong Kong cryptocurrency exchange Gatecoin has confirmed plans to resume HKD and USD bank transfers through new partners after suffering a banking blackout in September.

It has been two months since Gatecoin suspended HKD and USD transfers due to “abrupt” bank account freezes in Hong Kong.

“It was a major disruption to our business”, Gatecoin marketing chief Thomas Gluksmann said recently, particularly after the exchange had “tripled” its customer base in a 2-3-month period prior to the banking freeze, due to this year’s bitcoin price rally. A timeline summary of multiple banking freezes is detailed here.