Singapore’s QUOINE, a leading cryptocurrency exchange has launched a new crypto-to-crypto only platform called QRYPTOS, currently in a beta desktop version. Developed to meet the trading needs of a growing professional and retail market, QRYPTOS was designed to make cryptocurrency trading convenient and efficient for everyone from the novice investor to corporate clients.
All operational processes on QRYPTOS are fully compliant with global Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.
QUOINE will deploy its trading engine powering their current Bitcoin exchange and trading platform, QUOINEX to deliver the same high trading performance on QRYPTOS. Customers can now sign up for beta trial. Listed cryptocurrencies on QRYPTOS include some of the largest cryptocurrencies in the market such as Bitcoin (BTC), XRP, Ethereum (ETH), Zcash (ZEC), Ethereum Classic (ETC), Litecoin (LTC), and Monero (XMR), with more to be added soon.
Co-Founder and CEO of QUOINE, Mike Kayamori said:
“We are excited to launch a digital first cryptocurrency exchange to support the rapidly growing use of cryptocurrencies in the global FinTech ecosystem. As part of our fully digital service, customers do not need to open a bank account to start trading on QRYPTOS. Instead, they can use their digital currency wallet. This expands our offering of cryptocurrencies to customers who are searching for other attractive alternative asset classes for trading or investment of their Bitcoin.”
Mario Gomez-Lozada, Co-Founder and CTO of QUOINE also commented:
“We’ve combined over 200 years of fintech experience from finance, trading and engineering talent to develop a secure, liquid and transparent exchange that provides the highest security measures and superior execution capability, on par with the standards of large global financial institutions. At our core, we are a customer-driven technology company that puts the safety of customers’ assets first on a market leading trading platform.”
To attract liquidity, QRYPTOS currently has an attractive incentive structure in place for market makers. For every market trade completed by market makers, they will be rewarded with 50% of the taker fee collected by QRYPTOS. The taker fee is fixed at a competitive rate of 0.15%.
To note, US and Japanese residents are excluded from participating on the platform for now. Earlier this year, QUOINE redesigned their bitcoin trading platform and renamed it QUOINEX to seperate it from the overall holding company QUOINE.