COBINHOOD, a zero-fee cryptocurrency exchange, has announced the launch of fiat trading, which means that legal tender can be converted, through COBINHOOD, into cryptocurrencies, and vice versa. U.S. dollar deposits will be accepted from July 20th.
Last month, COBINHOOD announced the creation of the DEXON Foundation, which was created to support the DEXON blockchain technology, a ‘blocklattice’ on which DApps could be built far easier than previous decentralized networks. While COBINHOOD is a separate, commercial entity, it is also the exclusive ICO services partner of the DEXON Foundation. With fiat trading now arriving to COBINHOOD, investors can buy and sell tokens for Bitcoin, Ethereum, and Tether, in addition to a multitude of other options on the COBINHOOD platform in the future, including DEXON.
Popo Chen, founder of COBINHOOD, said: “In several instances, the market is not reflecting tremendous progress being made at cryptocurrencies worldwide. Traders know there are opportunities abound for value, so it’s a very synergistic time to debut fiat trading on the COBINHOOD platform. There’s no doubt in my mind that many value investors were waiting on the sidelines until prices rationalized, and so the near term promises to be an exciting time for exchanges that can offer the liquidity fiat options provide.”