COBINHOOD Launches Cryptocurrency/Fiat Trading Pairs

COBINHOOD, a zero-fee cryptocurrency exchange platform has launched a new feature that allows users to trade cryptocurrency/USD trading pairs. The move is in keeping with the platform’s aim to claim a much more significant stake in the emerging virtual currency exchange market.

Cryptocurrency/Fiat Trading on Cobinhood

Based on the new feature, users will be able to trade USD in exchange for virtual coins and vice versa. Before the announcement, COBINHOOD only dealt in crypto/crypto trading pairs due to the regulatory and compliance requirements of fiat deposits/withdrawals. According to the company, deposits in USD will be accepted on the platform beginning July 20, 2018.

As part of ongoing efforts to make the plan a reality, the company has been working to ensure that it remains in compliance with laid-down statutes. COBINHOOD has been developing robust know-your-customer (KYC) protocols. In fact, the company reportedly meets the KYC Level 3 grade which allows it operate in even the strictest financial jurisdictions worldwide.

Of particular importance to any exchange platform offering fiat trading is a reliable payments partner. COBINHOOD has secured an agreement with Epay to provide a seamless payment interface for its operations. The company also recently unveiled plans to create a decentralized exchange platform.

Cryptocurrency Prices will Increase in 2019

This announcement comes at a time when the cryptocurrency market is experiencing a severe bearish trend. Prices have been in decline since the start of the year, and many coins have lost much of their late 2017 highs.

Commenting on the present situation vis-à-vis the move to launch fiat trading, COBINHOOD founder, Popo Chen, said:

In several instances, the market is not reflecting tremendous progress being made at cryptocurrencies 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.

Experts believe that the entry of institutional investors into the market will initiate another bull run causing prices to skyrocket. The emergence of cryptocurrency ETFs, secure custodial tools, and the firming up of virtual currency regulations might form considerable incentives to get the big money players into the scene.

What do you think about the new cryptocurrency/fiat trading feature of COBINHOOD? Keep the conversation going in the comment section below.

Image courtesy of COBINHOOD, Pexels

Published at Sun, 15 Jul 2018 09:00:00 +0000

Altcoin News

October 28, 2017

FidentiaX Develops World’s First Tradeable Insurance Marketplace

People will soon be able to buy and sell insurance policies using the blockchain-based platform, fidentiaX, which is creating the world’s first tradeable insurance marketplace.

[Note: This is a press release.]

Most people do not know that insurance policies with cash value are tradeable on the market for higher returns. In 2014 alone, $57 billion (250,000 policies) of the estimated $112 billion USD of policies lapsed and surrendered could have been resold on the market. The minority of policyholders who know about this find it difficult locating interested buyers due to the absence of a recognizable marketplace for safe and secured transactions. Buyers looking to add policies to their investment portfolio are confronted with similar hurdles.

Limited options, lack of awareness, and accessibility have created an inequitable situation for policyholders. Insurance companies prefer that policyholders surrender their policies (thus releasing them from their sum-assured obligation) rather than encourage trading of these policies. fidentiaX aims to disrupt this status quo and break the tethers of the insurance companies by empowering policyholders to monetize their policies.

Leveraging blockchain technology and smart contracts, fidentiaX will help policyholders and investors build a portfolio of tradable policies with stable returns, while developing a trustless platform for trading of these policies.

There are many advantages of buying an insurance policy on the open market, for instance: stable returns (superior to a similar asset class with the same risk ratings), fixed tenure, liquidity, and low correlation with other asset classes.

fidentiaX will be the world’s first marketplace for tradeable insurance policies, creating a marketplace and repository of insurance policies for the masses. fidentiaX’s Policy Ledger breaks from the traditional reliance on intermediaries by creating a digital ledger for policyholders enabling them to:

Consolidate and manage insurance policies on a distributed ledger.
Creating an immutable record of available policies on the blockchain.
Premium payment alert
Coverage summary
Multi-signatory access for beneficiaries and trustees on mortality event

fidentiaX strongly believes that tradable policies should form part of any investment portfolio. To this end, the company will conduct periodic (minimum once a year) private sales for members only. Policies from the model portfolio will be auctioned for a minimum number of fidentiaX (fdX) tokens, and the auction will be open for members to bid on the policy (a real-world asset). The successful bidder will take ownership of the policy and could either cash out the policy or add that policy to their investment portfolio.

In the coming years, Asia will be the fastest-growing market for life insurance, with an estimated real annual compounded growth rate of 10.2 percent. fidentiaX will be focusing on building its brand within Asia before executing its global expansion strategy. Key focus countries within Asia are Hong Kong, Japan, Korea, Malaysia, and Singapore.

The establishment of the fidentiaX Open Source Foundation (FOSF) will build a framework for the community, by the community to serve the community. The FOSF aims to create an equal opportunity community of contributors from both developers and industry contributors. Using funds from the foundation, collaborators will develop freely available enterprise-grade insurance blockchain solutions to benefit millions of users and insurers worldwide. The core focus of the foundation is to develop, proliferate, and promote an open-source blockchain architecture that is not owned by any traditional large insurance institution or blockchain development firms.

fidentiaX is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Images courtesy of fidentiaX.

The post FidentiaX Develops World’s First Tradeable Insurance Marketplace appeared first on Bitcoinist.com.

COBINHOOD Launches Cryptocurrency/Fiat Trading Pairs

Cryptocurrency/Fiat Trading on Cobinhood

Cryptocurrency Prices will Increase in 2019

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