Hong Kong-based cryptocurrency platform, Crypto.com, announced the launch of its cryptocurrency exchange on Nov. 14.The Crypto.com Exchange is intended to drive the mass adoption of cryptocurrencies by enabling over one million users the ability to trade digital assets through the Crypto.com web interface, trading API, or through its app.
"Creating an exchange has been a natural extension and next step to ensure that everything stays in our own ecosystem," Kris Marszalek, co-founder and CEO of Crypto.com, told Cointelegraph at Blockshow Singapore 2019.Notable features of the Crypto.com Exchange include liquidity, competitive trading fees, institutional-grade custody and security, and intuitive experience through what Crypto.com says is a very easy-to-use interface.
"The Crypto.com platform is trusted, secure and has never been hacked. The success rate for the new exchange is high due to these factors. Now, we have to onboard users, which we plan to do by generating activity from our retail platform," said Marszalek.
While the Crypto.com exchange will initially support popular cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin, EOS, XLM, MCO and USDT.Meanwhile, the platform will be powered by the Crypto.com Coin.
New digital assets will be listed on the exchange through "The Syndicate," which is a Crypto.com fundraising platform.
"CRO holders will receive propriety token allocation. We will also sell every new coin on the exchange at 50 percent off. The exchange won't charge listing fees and will give users cash back for whatever they sell," said Marszalek.
To increase the liquidity of the CRO coin before the mainnet launch, it will be paired with all coins listed on the Crypto.com Exchange.
Building influence through an exchangeWhile Marszalek mentioned that he once had doubts about launching an exchange due to the high number of cryptocurrency exchanges already in the space, he now views an exchange as a necessary component for growing the influence of Crypto.com.
"Not only is an exchange a proven revenue model - it's also where most of the value occurs in the entire crypto ecosystem today. I'm not saying that it will be like this forever, but today having an exchange is a must," Marszalek explained.
Marszalek is confident that the Crypto.com Exchange will thrive, as the company has already met compliance regulations and has a large user base.
Crypto.com Launches New Exchange Eyeing Top-10 Spot Within 5 Years
Published on Nov 14, 2019
by Cointele | Published on Coinage
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