Cobinhood Launches Cryptocurrency/USD Trading Pairs

A famous zero-fee cryptocurrency exchange platform COBINHOOD has founded a new function that enables clients to exchange  cryptocurrency/USD trading pairs. This step corresponds to the purpose of the platform to claim a much larger share in the growing virtual currency  exchange marketplace.

In view of the new function, clients will have the capacity to exchange USD in return for virtual coins and on the contrary. Prior to the announcement, COBINHOOD just managed in crypto/crypto exchanging pairs due to the normative and regulatory compliance specifications of fiat deposits/withdrawals. As indicated by the organization, deposits in USD will be acknowledged on the platform starting July 20, 2018.

Within the frameworks of attempts to turn the plan into a reality, the organization has been trying to guarantee that it stays in accordance with set statutes. COBINHOOD has been creating powerful know-your-client (KYC) protocols. Indeed, the organization allegedly meets the KYC Level 3 grade which permits it work in even the hardest financial jurisdictions around the world.

Of specific significance to any trade platform offering fiat exchanging is a solid payments partner. COBINHOOD has provided a contract with Epay to give a full installment interface to its activities. The organization as well recently opened plans to make a decentralized trading platform.

This announcement comes when the cryptocurrency market is encountering an extreme bearish trend. Costs have been in decay since the beginning of the year, and numerous coins have lost quite a bit of their late 2017 highs.

Specialists hope that the entry of institutional financial investors into the market will start another bull run making prices to soar. The development of cryptographic money ETFs, secure custodial devices, and the firming up of virtual currency regulations may shape significant motivating forces to get the huge cash players into the scene.