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CoinMetro Exchange business updates: fiat currency deposits, closed beta, and licensing progress
CoinMetro, the tokenised exchange platform, today announced that users are now able to deposit EUR, USD and other fiat currencies when they sign up to the platform. CoinMetro’s multi-currency wallet will be able to hold both crypto and fiat at launch, and will be the backbone of the exchange’s crypto to fiat and fiat to crypto trading pairs.
Created by the team behind regulated forex broker, FXPIG, CoinMetro offers a feature-rich cryptocurrency trading environment, combining the three major components of the digital economy – a cryptocurrency exchange, a trading platform, and an Initial Coin Offering (ICO) platform.
CoinMetro is now in the process of agreeing partnerships with various financial service providers to ensure several different liquidity options at launch. The team is also currently pursuing a UK eMoney licence, which will give the platform access to the Single Euro Payments Area (SEPA), host to more than 500 million consumers and over 20 million businesses. Additional exchange licences are also currently being pursued in Australia and Mexico.
Kevin Murcko, CEO of CoinMetro, said: “While other firms are simply choosing to ignore regulatory requirements, we believe it’s important that we tackle regulation early on. Unregulated exchanges will have to bite the bullet sooner or later, and overcoming legal obstacles at this early stage will benefit our exchange in the long term.”
In June, CoinMetro received its first pair of licences, enabling the company to operate legitimately under Estonian law and welcome customers from around the world. The licences provide a framework for the business to establish robust checks for Anti-Money Laundering (AML), and Know-Your-Customer (KYC).
Murcko added: “We’re pleased with how much progress is being made on the platform and we’re working hard to integrate feedback from users. Listening to our community is so important to us and we’re thankful for all their support. The development team is producing an exchange with mature market capabilities, like price discovery and best-spoken aggregation methods, which is unlike any other platform available on the market. We’re building something that will transform the industry for the better.”
CoinMetro is currently in the midst of its closed beta, with a live beta expected to launch in Q3 2018. Existing beta testers can login now via https://beta.coinmetro.com
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