Starting from July 20, 2018, COBINHOOD will accept USD deposits. Based on a no-fee trading process, the company is modeled similarly to Robinhood, which added cryptocurrency trading to its platform earlier this year. Both platforms are marketed toward millennials, hoping to be a gateway to the investment world through mobile phones.
The exchange’s management notes that its trading platform complies with all applicable know-your-customer (KYC), touting that its services meet KYC Level 3 grade. This ensures that its crypto trading platform complies with the most stringent financial regulations worldwide.
“Traders know there are opportunities abound for value, so it's a very synergistic time to debut fiat trading on the COBINHOOD platform. There's no doubt in my mind that many value investors were waiting on the sidelines until prices rationalized, and so the near term promises to be an exciting time for exchanges that can offer the liquidity fiat options provide.” - Popo Chen, Founder Cobinhood
Payment Processing - COBINHOOD partnered with online payments company Epay to offer users an intuitive payment interface for payment of the fiat-crypto pairs.
ICOs - COBINHOOD supports a dedicated crowdfunding platform for organizations to launch their ICO through.
Decentralized Exchange - The cryptocurrency will expanding its operation further through a partnership announced last month with IDG Capital, an investment company that manages over $20 billion in clients’ assets. IDG Capital will provide the financial backing for it to launch a decentralized crypto exchange (DEX).
Margin Trading - Last month the exchange announced that it would would beta testing allowing users to trade cryptocurrencies on margin as well.
By: BGN Editorial Staff