According to Crypto.com, the exchange will open in closed beta week of November 18. The company further said that the public launch will be a progressive launch in all markets where the Crypto.com App is available, beginning in early December.
According to the company, the launch of this new exchange is a one step forward in its mission to drive the mass adoption of cryptocurrencies. The exchange will provide deep and global liquidity to its customer through its Vortex Liquidity Engine that enables users to have access to deep liquidity pools and best execution prices.
The exchange offers very competitive trading fees which are at 0.008% maker and 0.02% taker for a typical account and also, high volume accounts will be able trade free after volume & CRO staking discounts. It will also provide institutional-grade custody and security, and intuitive experience through what Crypto.com says is a very easy-to-use interface.
Crypto.com will initially support 9 assets which include BTC, ETH, XRP, LTC, EOS, XLM, USDT, CRO, and MCO. All the assets will be paired with BTC, CRO, native coin of Crypto.com, and USDT for trading. More trading pairs and crypto assets will be added on the platform as the operation progress.
Meanwhile, the company said that its native digital token crypto.com coin (CRO) will provide additional utility and benefits to users including liquidity, low fees and better execution prices.
Founded in 2016, Crypto.com pioneers payments and cryptocurrency platform and seeks to accelerate the transition to cryptocurrency. With a mission to accelerate the world’s transition to cryptocurrency, Crypto.com provides a powerful alternative to traditional financial services to over 1 million users on its platform.
With a strong team of over 205 staff members, it is one of the first cryptocurrency companies to have obtained the Cryptocurrency Security Standard requirements such as CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance.
Kris Marszalek, Co-founder and CEO of Crypto.com, commented:
“We have 1+ million users on the Crypto.com platform today, the best crypto debit card in the market covering Asia, US, and Europe– we’re the trusted brand that sets industry standards in terms of security and compliance. Launching an exchange is the natural next step that allows us to complete our ecosystem play. I strongly believe that only companies that built entire ecosystems will thrive during the next bull market.”
Talking to an crypto news outlet at BlockShow Singapore 2019, he said that the success rate of the exchange is high as their platform is trusted ,secure, and has no background of cyber-attacks. The next is challenge is to onboard users.