European cryptocurrency exchange Covesting on Tuesday announced the ‘soft launch’ of its trading platform, which aims to bring financial trading and professional asset management providers to the cryptocurrency world.
The announcement comes less than a month after Gibraltar’s regulator awarded Covesting its bespoke license for blockchain firms using distributed ledger technology.
Using a Software-as-a-Service delivery model, Covesting has executed a series of default tests that apply to interface/UIX issues, problems with order execution and data representation/calculation issues. The move comes after seeding the beta to selected 200 testers who have been provided with an initial deposit of 0.2ETH to explore all available features and report bugs on the platform.
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Covesting plans to officially roll out additional fiat funding methods including bank wires, transfers, credit cards. In the coming weeks, it will invite post-ICO projects to list their tokens on the exchange. Covesting says its team will perform a careful evaluation and due diligence before each listing.
Operations Inside a Regulated Framework
The soft launch builds off the success of Covesting’s previous developments, which included its initial-coin-offering (ICO) last December, the deployment of its Crypto Intelligence Portal, as well as its recruitment strategy that saw veteran Saxo Bank executives, Kurt Carlsson, and Peter Kristenson join its ranks.
Covesting allows everyday investors to search and compare the performance of hundreds of proven cryptocurrency traders and mirror their trades automatically. Simultaneously, the Covesting platform helps investing talents bring their results to light, whereby competing with other traders in the equally fair environment.
Covesting was initially started by Dmitrij Pruglo, as well as several other ex-Saxo Bank managers who collectively boast an extensive background in FX, equity, and derivatives trading. Their platform aims to bring ordinary investors who do not have the time or tech knowledge to invest in cryptocurrencies, facilitating the ability to invest intelligently in a booming new market.