Estonia-based Bibox Exchange has great news for the crypto community. It is soon launching a fiat-to-crypto platform, Bibox Europe (Bibox EU).
Bibox, the exchange that was among the first to implement AI for streamlining its operations, is entering the EU’s market. Dubbed Bibox EU, the exchange will also operate in the United Kingdom.
The new platform promises a reliable fiat-to-crypto trading to both institutional investors and for retail. Concurrently, it makes it clear that full regulatory compliance status is a must.
IT'S OFFICIAL! Bibox EU is coming soon.
Leveraging Bibox's market infrastructure, we offer easy, fast and secure crypto-fiat trading platform.
— BiboxEurope (@BiboxEurope) May 20, 2019
In his Medium post, Aries Wang, co-founder of Bibox, elucidated various aspects of the new exchange. For instance, he mentioned that a top 10 global bank has already provided it with equity investments. Besides, the exchange struck partnerships with unspecified Swiss banks.
“Bibox Europe has been linked to multiple Swiss banks and it will offer crypto trading and crypto — fiat (US dollars, Euros, English pound, Swiss franc, etc) trading,” he writes.
What’s in store?
Wang promises a number of benefits for Bibox EU’s customers. One of them concerns security, which remains a huge problem in the crypto world. Wang notes that Bibox has partnered with a regulated custodian to protect the assets of cold wallets. It has also signed a warranty service with an insurance company.
Another good news is that Bibox Europe will offer its native credit card. Users will be able to purchase different cryptocurrencies with Bibox VISA/MasterCard. The exchange also plans to “add more application scenarios to its native token in the international payment field.”
In addition, Bibox EU will enable OTC trading. In his post, Wang mentions that Bibox EU already enjoys numerous partnerships. He writes, “Partnerships with leading OTC trading desks in Asia, Europe and America, including FBG Capital, to implement rapid order execution and process transactions globally involving over 20 cryptocurrencies.”
The launch of Bibox EU shows the company’s appetite for global expansions. In 2018, Bibox acquired Chain Capital, a member of Swiss VQF, obtaining the VQF license. Besides, the exchange has also joined the CoinMarketCap’s initiative the DATA (Data Authentication Transparency Alliance), which aims to prevent wash trading and price manipulation.
Previously, Altcoin Buzz reported that Seed CX started to support spot trading on three new stablecoins. Another exchange, Bitoasis, has recently received a preliminary license in the Middle East.