Users on Cobinhood can now exchange cryptocurrencies into US dollars.
Cobinhood, a free trading platform for cryptocurrencies, enables Fiat trading. Since July 20, users can convert legal tender, initially US dollars, into cryptocurrencies on Cobinhood and vice versa. Cobinhood’s Fiat trading is part of a series of important announcements on the trading platform. Surveys show that after a period of consolidation, the majority of market participants expect prices to rise again in 2019.
In June, Cobinhood had already announced the establishment of the Dexon Foundation. The aim is to support Dexon’s blockchain technology, the Blocklattice. Based on Blocklattice, DApps can be built much easier than on conventional decentralized networks. Cobinhood is the exclusive ICO Service Partner of the Dexon Foundation. Fiat trading on Cobinhood will enable investors to buy and sell tokens for BTC, ETH and USDT as well as a variety of other options on Cobinhood.
“In many situations, the market does not reflect the great progress that has been made in cryptocurrencies worldwide,” says Popo Chen, founder of Cobinhood. “Traders know that there are a lot of opportunities at the moment, so it is a good time to introduce Fiat trading on Cobinhood. I have no doubt that many investors focused on real added value have been waiting for prices to rationalise. The near future therefore promises to be an interesting time. Fiat options provide additional liquidity for the platforms.”
Cobinhood has been working to meet rigorous Know-Your-Customer (KYC) requirements prior to the Fiat announcement and fulfils Level 3 KYC requirements, enabling Cobinhood to operate in one of the strictest regulatory jurisdictions in the world. In Epay, Cobinhood has also found a payment partner that offers users a payment interface with the greatest possible user-friendliness and legal compliance.
This made Cobinhood aware of the need for a payment partner who understands the great effort required for Fiat trading. Cobinhood has found such a partner in Epay. This enables Cobinhood to offer its users a user-friendly and legally compliant payment interface from now on.
COBINHOOD, founded in 2017, is the world’s first free trading platform for cryptocurrencies and service provider for ICOs. Behind the company is the former 17-media founder Popo Chen. The aim is to shape economies sustainably for the Blockchain era by creating a financial centre. COBINHOOD believes that the development of blockchain technology and a decentralized financial world will have a lasting impact on global capital markets and business operations.