Cobinhood Officially Launches USD Fiat Trades
Cobinhood began to step into fiat exchange services after receiving approval from regulatory bodies in the US. They will begin to offer trading pairs against the dollar towards the end of July, and they have begun working alongside Epay to allow for an efficient user interface.
The no-fee trading exchange was also endorsed by Richard Sherman, an American football player.
Popo Chen, Cobinhood’s CEO, stated that during several occasions, the market hasn’t reflected the advancements being made in the crypto industry worldwide. Traders are aware of the potential value, so it’s crucial to begin trading fiat on their platform as soon as possible.
The company referred to surveys that portray the expected rise in prices within digital currency markets by 2019. The managing director of eToro in the U.K., Iqbal Gandham, said that price correcting is a benefit to the system. He believes that investors have been waiting for prices to be rationalized, and the upcoming period will be an interesting time to find out the liquidity options to which fiat can contribute.
Liquidity has become an important problem for investors who hope to delve into a market after news that the biggest ETF trader in Europe has begun dealing with digital currencies.
Crypto exchanges can profit via fees, like Binance, who set a goal of a billion dollars before the year’s end, in addition to profiting through native coins. Cobinhood seems to be making their revenue via ICOs.
Cobinhood stated that they will create their DEXON foundation to support the entity’s nlockchain meant to assist dApps.