Laos First International Exchange Is Carrying Out Cryptocurrency Transactions

Vientiane Exchange Money declares to possess the newest technology to provide exact, transparent, and fast operations with all mentioned monetary units. Situated in the capital of Laos, this is the first international exchange certified to carry out cryptocurrency transactions. The purpose of the company is to change the way people cope with money by leading technology and innovation to everyday life and suggesting new experiences and opportunities in oncoming operations.

Separately from offering exchange services, the company designs  to deploy a modern line of automatic teller machines (ATMs) starting from July 1, 2018. The ATMs will be furnished with cryptocurrency exchange multifunctionalities, enabling clients to withdraw money and carry out operations in 7currencies: Bitcoin, Unit (Universal Currency), US dollar, Russian ruble, Thai bath, Singapore dollar and Lao kip.

Vientiane is a serious growth for the South Asian country, but its future may be far from success given the destiny of Lao Security Exchange. It was developed in 2010 by the Lao government based on technical and financial assistance from South Korea and Thailand, but regional organizations are not waiting to join the platform. At the moment, there are only seven listed companies with daily trading volumes of 503 million Lao kips, which is about $60,000.

Although it can be the first Laos spot officially permitted to cope with digital assets, Vientiane Exchange Money is not the only regional project to pay attention on the new  money type. In 2017, the Bananacoin team ran an ICO, offering tokens supported by bananas grown on Laos plantations. One token equaled one kilo of Lady Finger bananas exported to China. In spite of some debates and even fraud accusations, the team managed to sell 6.8 million tokens out of 14 million available for sale.