EO Obtains Licenses for Crypto-Fiat Exchange and Wallet as its Initial Coin Sale Continues
EO, a four-platform-ecosystem has obtained two licenses to for its upcoming crypto fiat exchange and wallet. This makes it one of the first crypto-based companies to receive a license prior to the launching of its crypto products and it can officially allow the use of fiat on its upcoming crypto exchange, crypto wallet and online trading platform, as well as the exchange of its own coin, EO, with fiat.
Regulation in the crypto world is a fairly new topic which has been getting a lot of attention as more crypto related projects emerge. Many crypto exchanges and crypto wallets are seeking to receive licensing for their services, however, currently exchanges and wallets, including some of the biggest names, are operating without licensing, and are allowed to due to the youth of the cryptomarket.
EO comes from ExpertOption which has been a regulated broker since entering the online trading scene, EO which among other products will develop and launch a crypto exchange and crypto wallet for both fiat and digital currencies is following the same path and has received the Virtual Currency Exchange Service License (number FVR000193) and the Virtual Currency Wallet Service License (number FRK000161) before launching its crypto products.
EO.Finance, the financial crypto-fiat hub which will serve as a wallet for storing and exchanging cryptos with fiat is expected to be released in July of 2018 according to the roadmap. EO.Trade crypto exchange, which is the biggest project in the ecosystem will be released in December of the same year and is now officially licensed to offer direct exchange from fiat and crypto and vice versa along with all other EO products.
The EO ecosystem with its platforms will bring online trading and blockchain projects closer by making crypto and fiat exchange easy. The platforms will allow newcomers to crypto to buy tokens using fiat. They can also exchange their cryptos back to fiat without a complicated process.
The system will introduce token-based accounts on its online trading platform, ExpertOption, where the EO coin will allow crypto trading with higher profit percentages. The EO coin will also allow lower transaction fees on EO.Finance and EO.Trade.
The EO coin presale started on the 16th of April and will continue until the 29th of June while a second round of sale is expected on the 16th of July to the 31st of August.
Images courtesy of EO