Assemblage24 started the IMVU credit exchange in 2007. The trading platform facilitated the spot buying and spot selling of IMVU credits to the incumbent user base. The service offering created a means for the developer community to monetize their sales from virtual IMVU credits to real world currencies.
- Operated from August 2007 till February 2014, (terminated due to prohibitive regulatory constraints in the USA)
- Monetizing virtual currencies (IMVU credits)
- Fully automated “Zero Touch” processing of thousands of transactions per month
- First IMVU credit re-seller to integrate mobile payments
- First IMVU credit re-seller to integrate crypto-currency payments
- Payment channels included PayPal, Zong mobile, CashU and Crypto-currencies
- Fully automated in world ATM exchange (Flash integration with IMVU client)
Sadly IMVU decided to terminate the third party re-seller program in 2014 due to the regulation surrounding virtual currencies in the USA. The mandatory KYC and AML compliance coupled with FinCEN’s bit-licence made the business model cost prohibitive.
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