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Tradehill Bitcoin Accounts Moving to Credit Union

Tradehill Inc., an exchange for virtual currencies such as Bitcoin, is moving customer accounts to a U.S. credit union, a shift designed to make it easier for clients to complete transactions.

Holdings with Tradehill will be transitioned to federally-insured accounts at the Internet Archive Federal Credit Union, according to an e-mail to clients obtained by Bloomberg News. Tradehill is moving accounts to the credit union to win more business from investors and financial institutions that trade in Bitcoins, according to a person with knowledge of the matter, who asked not to be identified because the plans aren’t public.