Starting from July 20, 2018, COBINHOOD will accept USD deposits. COBINHOOD Fiat-Crypto Pairs will come in combination with the exchange’s no-fee trading process. It 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. COBINHOOD Fiat-Crypto Pairs will help the exchange compete in a growing marketplace.
COBINHOOD Fiat-Crypto Pairs
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 COBINHOOD Fiat-Crypto Pairs and their trading platform overall 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.
Growing Regulation Development
Coinbase has been given the green light to list cryptocurrencies that are classified as securities.
The G20 advisory board recently published a report that is receptive to an economy where cryptocurrencies and fiat will co-exist.
Countries like Venezuela are showcasing how blockchain technology and cryptocurrencies are much more than investments, but can truly help economic progress around the world.