The exchange can be used by institutional investors, commercial businesses, and retail investors to trade bitcoin with U.S. dollars, Singapore dollars and euros worldwide. The exchange relies on top tier finance and security technology, employing NASDAQ exchange technology, Thomson Reuters for screening and continuous suspicious activity monitoring, and Jumio for identity verification.
itBit’s leadership includes Charles Cascarilla as CEO and Andrew Chang as COO. The company is headquartered in New York City with an international office in Singapore. itBit is backed by Canaan Partners, RRE Ventures, Liberty City Ventures, and notable angel investors Jay W. Jordan II and Ben Davenport. itBit has received more than US$5 million in venture capital.
In February 2014, itBit was unaffected by a denial-of-service attack that caused several other prominent Bitcoin exchanges to suspend withdrawals for several days