Peer-to-peer Ubcoin Market declared that trading on UBC digital token would commence on August 28 from the Singapore-based digital coin exchange C.O.S.S. The company’s app would also be available for download to the public use from next month. This will enable users to buy and sell goods much like the platform of eBay. The platform is designed to attract about 200 million fresh investors to the cryptocurrency sector while bridging the gap between the real worlds and the digital currencies.
Uses Online Marketplace
Ubcoin is keen to make use of the online marketplace model to develop the first true efficient way of using virtual asset on tangible goods without involving fiat currency in the process. This would be first on the globe. At the same time, if anyone does not have digital currency, they could become crypto owners through an easy and safe manner. That will involve selling something that they enjoy the ownership, according to its press statement.
As far as the experts of crypto owners, they could spend their virtual currency on real goods without any issues from legal and financial in respecting of converting cryptocurrencies to fiat. A digital coin is a useful tool for peer-to-peer marketplace ecosystem. The company is part of the Ubank app, which is a leading Eastern Europe mobile payments app. The parent firm is in existence since 2009 and managed to attract 2.5 million active users and recorded over 16 million downloads through the globe. In Samsung and Fly, it is a pre-installed app.
For Ubcoin, listing on C.O.S.S. is a reasonable and logical option as it is incorporated in Singapore while global marketing and business development departments will relocate shortly. The company treats the country, as well as, other Asian nations such as South Korea, Indonesia, and China as core regions to promote its business. The company has plans of opening up regional branches in Hong Kong and Seoul before the current year ends.
Significantly, the company declared a comprehensive alliance with Qbao Network, a Singapore-based firm, only last week. The company has made it clear that it has opted C.S.S.S. because of the active Asian community besides the security track record apart from its jurisdiction. The exchange is involved in carrying out serious due diligence, technical and legal audits before any listing of any digital currencies.
Ubcoin and C.O.S.S. are engaged in the promotion of the exchange to observe first listing. The company indicated that top 50 volume traders would be rewarded with sizeable incentives. Ubcoin CE, Felix, reacted to the developments and said, “We have always focused on delivering on our promises to users, supporters, contributors, team members. During the token sale, we have been working on both developing a fully functional and user-friendly product and implementing a well-thought-out exchange strategy because we know that these things are important to the community and are achieved by a very small number of new projects.”
He said that the favorable results are for both sides only. The platform would be made available in a number of Asian languages.