CoinMetro Cryptocurrency Mining will be soon launching in Q3 of 2018. Users will be able to trade the 5 leading cryptos that is BTC, ETH, XRP, LTC and BCH against these currencies along with a number of payment and e-money institutions.
The news came in the wake of CoinMetro’s discussions with 6 different liquidity providers. Meetings were supported by partner and forex broker, FXPIG, leveraging the company’s experience in emerging technology for financial trading environments and its understanding of the liquidity requirements of currency markets.
After the launch the CoinMetro cryptocurrency mining platform will even accept Euro payments and removals in the Single Euro Payments Area (SEPA), having received a positive reply from CoinMetro’s Estonian banking provider. Further banking partners are being sourced in order to provide additional currency options, and these are expected to be announced later this year.
According to Kevin Murcko, CEO of CoinMetro, one of the problems of getting involved with crypto is on-ramping looking somewhere to acquire crypto in exchange for fiat money. In spite of Bitcoin moving further into the mainstream and attracting recognized financial institutions, locating an exchange that will convert Dollars, Pounds, or Euros to crypto is still frustratingly difficult. While few of the multi-coin exchanges have announced plans to start accepting fiat and the creation of fiat trading pairs, their assistance is still very incomplete. Most exchanges permit only one or two currencies for trading with crypto, which for serious traders, is still far too obstructive.
As reported in Global Banking and Finance, in June 2018, CoinMetro cryptocurrency mining received its first pair of licenses, letting the company function legally under Estonian law and welcome customers from around the world. The licenses offer an outline for the business to create robust checks for Anti-Money Laundering (AML), and Know-Your-Customer (KYC). Exchange licenses are presently being followed in the UK, Mexico and Australia.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]